Target (TGT) reported dismal results yesterday. Profit at the No. 2 retailer fell 46% percent to $341 million, or 54 cents per share.
The Minnesota company’s foray north of the border, its first outside the U.S., isn’t going well. During the last quarter, the business lost $238 million before interest and taxes. Unfortunately, its U.S. business isn’t doing very well, either. U.S. same-store sales fell 0.3% in the third quarter.
Still, despite the problems, shares of TGT have gained more than 7% since January.