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Gregg Steinhafel

Target is getting its groove back: Turnaround takes hold

Target is on its way back. Shoppers are visiting the company's stores more often and spending more on each trip, the Minneapolis-based discount-store chain said Wednesday. The company raised its annual profit outlook and said its second-quarter net income more than tripled. The upbeat report is evidence efforts to spruce up fashions and other merchandise are paying off for CEO Brian Cornell, who has led the company for a year with marching orders to reinvent the "cheap chic" retailer after a series of problems. "I think we're making very good progress right now," Cornell told investors during a conference call Wednesday. "But we're not satisfied. We...