Target posts higher profit

CHICAGO (Reuters) - Target Corp. (NYSE:TGT - News) reported higher quarterly profit on Tuesday, boosted by strong sales and big returns from its credit cards. The discount retailer, which competes with larger rival Wal-Mart Stores Inc. (NYSE:WMT - News), earned $506 million, or 59 cents per share, in the fiscal third quarter ended October 28, up from $435 million, or 49 cents per share, in the same period a year earlier.