By  on November 21, 2013

Target’s net profits for the third quarter ended Nov. 2 declined 46 percent to $341 million from $637 million in last year’s quarter, falling below the company’s expectations. Earnings per share of 54 cents fell 46 percent from 97 cents in the third quarter of 2012, a result of the higher-than-expected dilution of 29 cents related to the Canadian segment.

Comp-store sales increased 0.9 percent in the quarter, which is near the low end of the retailer’s prior guidance.

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