Target Corporation (NYSE: TGT) plummets after Results

Target Corporation (NYSE: TGT) today reported third-quarter profit of $436 million, or $0.58 per share, as compared to $369 million, or $0.49 a share, a year ago. Profit increased by 18% for the third quarter of 2009. Sales for the third quarter increased 1.4% to $14.8 billion while same-store sales declined by 1.6%.

Analysts expected Target to post earnings of $0.50 a share on $14.8 billion in sales. However, Target remains cautious for the fourth quarter of 2009 and is therefore planning conservatively.

Shares of Target Corporation (NYSE: TGT) fell 0.58% to $50 in the pre-market because of its cautious outlook. So far in 2009, TGT is up over 45% and the 52 week trading range for TGT is $25.00 - $51.77.