Target Reports A Better-Than-Expected Holiday Quarter And Announces Paid Membership Program To Rival Amazon And Walmart

On Tuesday, Target (NYSE: TGT) reported its holiday quarter results, with both top and bottom lines surpassing Wall Street estimates. Despite guiding for another year of weak sales, Target was rewarded for boosting its profit and margins with its shares jumping 12% during morning trading. Moreover, Target unveiled a paid membership program to combat its rivals, Walmart (NYSE: WMT) and Amazon.com Inc (NASDAQ: AMZN). Fiscal Fourth Quarter Results For the period ended on February 3rd, revenue grew