Target ended 2009 on a positive note posting a 3.7% increase in fourth quarter sales to $19.7 billion vs. $19 billion in 2008, due to the contribution from new stores and a 0.6% rise in comp-store sales. The retailer also reported net earnings of $936 million for the quarter ended January 30, 2010, compared with $609 million in the quarter ended January 31, 2009.

"We're very pleased with our fourth quarter and full year 2009 financial performance, which reflect substantial innovation and disciplined execution by teams across the company," said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. "Fourth quarter retail segment performance was well above our expectations due to stronger-than-expected holiday sales, combined with well-controlled inventories and disciplined expense controls. In 2010, we expect our guest traffic trends and sales of discretionary categories to benefit from broader implementation of our new merchandise initiatives as well as a continued modest recovery in the economy, and believe Target will continue to gain profitable market share."