Target beats estimates on credit cards (Reuters)

CHICAGO (Reuters) - target Corp. (TGT).(N) posted an increase in largest quarterly profit as planned on Wednesday, as the profitability soared in its business from credit card to mitigate the impact of some sluggish sales in its stores.

Shoppers visited the chain discount food and other bases, but he spend with caution. Discretionary goods like clothing sales were under pressure as shoppers digest more raised for food, gasoline and other essential elements.

Shares of target backed pre-market gains and fell 3 cents to $50.75 with about an hour to go before the market opens.

Target has been adding fresh food products to several of its stores and subscription shoppers more for credit cards. But grocery transport margins lower than in other parts of the store and discount of 5% of smaller credit cards margins.

However, these initiatives have led to more visits and sales, while shoppers "remain cautious in their spending," said Director General Gregg Steinhafel.

Target has obtained $ 689 million, or 99 cents per share, in the first quarter finished on 30 April, from 671 million, or 90 cents per share, a year earlier. Analysts, on average, should he win 94 cents per share, according to Thomson Reuters I/B/E s.

Sales increased 2.8% to 15.58 billion, with sales in stores open at least a year up to 2%, the company said earlier this month. Total income, including credit card revenue, increased by 2.2% to 15.94 billion.

Shoppers more use the credit and debit cards of the company, with 7.6% of sales in stores released for cards in the course of the quarter of 4.9% a year earlier.

Profit in the business of credit card jumped to about 75% of $ 194 million. Finance improvement of consumers has helped target reduce bad debt expenses to $ 197 million $ 12 million a year earlier.

Average credit card debt has decreased by 14.4% to $ 6.5 billion, and those directly funded by target increased by 6% to $ 2.5 billion. In January, target said it wants to sell its credit card receivables.

(Reported by Jessica Wohl;) (Editing by Derek Caney, Dave Zimmerman)

CBS 1 q beats projected revenue, double dividend (AP)

LOS ANGELES - CBS Corp. has produced a solid performance in the first quarter and doubled its quarterly dividend in a sign that the broadcaster believes that he has recovered from the last recession in advertising.

Management of the company Tuesday credited the gains in the first quarter to the redesign of unprofitable businesses. CBS, which broadcasts "Hawaii Five-O" and "csi", also attempted to reduce its dependence on advertising by taking advantage of the growing demand for CBS content streamed over the Internet.

In an effort to reduce costs, CBS has signed a contract for 14 years to separate charges of rights with channels cable to carry the college basketball tournament NCAA played each March. The new deal was a key factor in CBS, returning to a profit in the first three months of the year.

And an agreement to allow the video company online Netflix Inc. of flow more old CBS shows such as "Medium" on Internet was the first of the many CBS account on to improve its results for the years to come.

"We are clearly benefiting from strategic actions we have taken to improve and of risk to our business model, including to diversify our sources of income and the management of our cost structure," CEO Les Moonves said on a conference call with analysts. He said sell shows more cost-effective ways "positions CBS to success, not only for the rest of this year, but for many years to come."

Income net in the first quarter came to $ 202 million, or 29 cents per share, compared to a loss of $ 26 million, or 4 cents per share, a year ago. Income net last year totalled 5 cents per share excluding special items.

CBS was able to save money by sharing the coverage of the tournament, NCAA college basketball with Turner Broadcasting of Time Warner Inc... CBS did not say how much he saved, but Moonves said that it was the first time that the NCAA "March Madness" tournament has been profitable in several years. CBS also did not pay to broadcast the Super Bowl, which was shown on the Fox this year.

The effect combined step carrying the Super Bowl and some games tournament NCAA basketball of travel to Turner trim about $ 350 million. Still, growth in other parts of the business of advertising from CBS helped to limit the decline in revenue in the first quarter under 1% to $ 3.51 billion.

The results beat expectations of analysts. Analysts surveyed by earnings FactSet expected 19 cents per share on revenue of $ 3.46 billion.

The projection has encouraged the company based in New York to boost its quarterly dividend of 10 cents per share by 5 cents. Who will restore a portion of what shareholders lost when the company cut its dividend of 27 cents per share two years ago. The upcoming dividend is payable July 1 registered shareholders as of June 10.

Shares increased by $1.26, or 5% to $26.50 in extended trade after results were announced. The rally lifted the October 2007 CBS stock levels.

This month, CBS will meet the major advertisers in New York to sell his line up for next fall. Moonves said that he expects this percentage "double digit" price increases ad for a year, helped by the fact that commercial time which had not been pre-booked is now selling at prices that are 40% over the greater part purchase period a year ago.

Whether if the popular television series "two and a Half Men" will return in this line-up, Moonves said only that Warner Bros. explores different ideas on how to do the show. Speculation has swirled remarks that could fill the gap left by Charlie Sheen fire two months ago, or if the issue is more for good.

Moonves, said that the company would start to see a "significant" boost revenue in the second quarter of its licensing agreement with Netflix, which has emerged as a rival to the chain of pay television CBS, Showtime. He said he expected that the contract of two years to bring "the hundreds of millions of dollars of new."

The Chief Executive also hopes that provider of satellite TV will want that Dish Network Corp. to buy the right content CBS age of flux after that flat purchased video-rental chain Blockbuster bankruptcy last month.

"Look, I do think that Blockbuster was purchased by dish to be a lot of shops selling cassettes." I think they are a place which means that our content, "says.

These alternative sources of income are essential to help CBS escape cycle of advertising of the bubble, said analyst Edwards Jones Robin Diedrich, who kept a "hold" on shares rating.

"As parts of the company continue to grow over time, I believe that the society and history becomes more balanced." "This would be something that we would be more favourable," says Diedrich.