(Filed Under Fashion News). Target Corp. opened 45 Target stores earlier this month in various states including Alaska, Connecticut, Georgia, South Dakota, Michigan, Wisconsin, Minnesota and Virginia.
Target also reported it would open new stores at a slower pace in fiscal 2009 and 2010. The company has plans to open 70 net stores next year-a bit below Target's annual average of 90 to 100 stores.
Target announced that its same-store sales for September fell 3 percent and that third quarter profits may be below Wall Street estimates. Target's competitor, Wal-Mart, reported a 17 percent increase in second quarter profit.
Target will report its third quarter earnings next month.
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