Target Has Weak Holiday Quarter

NEW YORK (Reuters) - Target Corp’s (TGT.N) reported profit in the holiday quarter that fell short of analyst estimates even as sales beat forecasts, sending its shares down 2 percent in premarket trading on Tuesday. Excluding items, Minneapolis-based Target earned a profit of $1.37 per share in the quarter ended Feb.3, just short of the average estimate of $1.38. The holiday season tends to represent 20 percent to 40 percent of annual sales for many retailers.