Discount superstore operator Target has reported its financial results for the third quarter ended October 30. Retail sales increased 3% to $15.2bn (£9.5bn), from $14.8bn (£9.2bn) in 2009, due to a 1.6% increase in like-for-like sales combined with the contribution from new stores. EBIT for the retail segment came in at $816m (£511m), an increase of 3.2% from $791m (£495m) in 2009. Net earnings for the period rose to $535m (£335m), up from $436m (£273m) during the same period last year. The credit card business posted a profit of $130m (£81m), up from $60m (£38m) a year earlier.

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