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Target's slight earnings increase impacted by Canadian costs
MINNEAPOLIS — Start-up expenses and other costs related to its Canadian entry reduced Target's earnings per share for the fourth quarter by approximately 18 cents.
The company reported fourth quarter net earnings of $961 million, or $1.47 per share, compared with $1.45 per share for the same period last year. Adjusted earnings per share, a measure the company believes is useful in providing period-to-period comparisons of the results of its U.S. operations, were $1.65 in fourth quarter 2012, up 10.1% from $1.49 in 2011.