Article updated: 2/7/2013 9:07 AM

Target’s key Jan. revenue metric tops Wall Street

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Discount retailer Target Corp. said Thursday that a key revenue measure rose 3.1 percent in January as shoppers bought holiday clearance merchandise.

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Discount retailer Target Corp. said Thursday that a key revenue measure rose 3.1 percent in January as shoppers bought holiday clearance merchandise. The gain topped Wall Street expectations, and Target shares edged up 31 cents to $63 in premarket trading. Gregg Steinhafel, chairman, president and CEO of Target, said its customers “continue to shop with discipline in the face of a slow economic recovery and new pressures, including recent payroll tax increases.”