UPDATE: Target Posts Drop In Q2 Profit

Target (NYSE: TGT ) reported a drop in its second-quarter profit. Target's quarterly profit declined to $611 million, or $0.95 per share, versus a year-ago profit of $704 million, or $1.06 per share. Excluding one-time items, its adjusted profit came in at $1.19 per share. Its revenue climbed to $17.1