Target Corp raises profit forecast; earnings rise

Target Corp on Wednesday reported a higher-than-expected quarterly profit and raised its fiscal-year forecast after benefiting from a strong back-to-school shopping season and higher online sales. Chief Executive Officer Brian Cornell said store visits increased and sales trends "meaningfully" improved during the third quarter ended on Oct. 29. "As we move into the biggest quarter of the year, we are pleased with our inventory position," Cornell said in a statement.