Target Corp. (TGT: chart) said Thursday that 2Q net income dropped to $540 million, or 61 cents a share, versus $1.41 billion, or $1.53 a share, a year ago.

In the same quarter last year Target posted a gain of $1.02 billion, or $1.11 a share, related to the sale of the Marshall Field's chain to May Department Stores Co., as well as another gain of 3 cents a share for discontinued operations.

Excluding items, Target earned $360 million, or 39 cents a share, for the quarter. As there were no items in the latest quarter, Target's earnings from continuing operations climbed 50% vs. last year due to improved sales and margins.

Revenue increased 14% to $11.67 billion from $10.28 billion. Same-store sales, or sales at stores open at least a year, grew 6.7%.

In morning trading, shares of Target were up 71 cents, or 1.3%.

Urban Outfitters Inc.'s (URBN: chart) fiscal 2Q profit climbed 49% on sales growth in each of the company's units.

The retail chain operator said that its net income for the quarter ended July 31 jumped to $30.6 million, or 36 cents a share, vs. $20.5 million, or 25 cents a share, last year.

Revenue gained 34% to $253.4 million versus $189.5 million. Same-store sales increased 10%. Direct-to-consumer sales and wholesale sales shot up 54% and 84%, respectively.

Urban Outfitters slipped $1.22, or 2.1% on the New York Stock Exchange.

Deutsche Telekom AG (DT: chart) Thursday reported a 63% jump in second-quarter net profit mainly due to growth at the company’s U.S. and German wireless operations and high-speed Internet businesses. According to the company, sales growth was led by the strong development of the mobile-phone business in particular. Germany's telecom company owns wireless business T-Mobile and Internet business T-Online besides its traditional fixed-line activities.

Deutsche Telekom’s net profit in the second quarter was 943 million euro ($1.17 billion), up versus 577 million euro a year ago. Earnings before interest, depreciation, taxes and amortization, adjusted for special items, advanced 6% to 5.2 billion euro, while sales increased 2.6% to 14.7 billion euro. The company reported its financial results under International Financial Reporting Standards.

T-Mobile, with units worldwide, added 1.9 million more customers during the latest quarter. T-Mobile USA remained strong with 972,000 more customers, but T-Mobile also managed to add 623,000 customers in Germany and now has 19.2 million customers in the U.S. and 28.2 million customers in Germany.

On Wednesday, Deutsche Telekom announced it plans to acquire Austria's No.4 wireless operator Tele.ring for 1.3 billion euro, and fold the business into its T-Mobile Austria unit so that it becomes No.2 in one of Europe's busiest mobile markets.

The strong performance in wireless and high-speed Internet helped offset weakness in the company’s traditional fixed-line voice business in the second quarter.

T-Mobile reported a 17% increase in adjusted Ebitda, to 2.5 billion euro vs. 2.1 billion euro.

Compared with the end of 2004, net debt increased by 5 billion euro 44.5 billion euro primarily due to payments for network infrastructure in the U.S. and dividend payments.

For 2005, Deutsche Telekom backed guidance of an adjusted Ebitda of between 20.7 billion and 21 billion euro. It plans to invest 7.5 billion to 8 billion euro in property, plant and equipment, expects free cash flow to be in the same order of magnitude, before special expenses such as acquisitions.

Elizabeth Arden Inc. (RDEN: chart) said its 4Q net loss shrank to 16 cents a share vs. $1.12 a year ago, while analysts had seen a looss of 13 cents a share. Excluding a charge for the sale of a facility, the net loss would have been 11 cents a share. Revenue for 4Q increased to $187.1 million vs. $154.6 million last year. For the 1Q, the beauty and cosmetics company expects earnings of 5 - 6 cents a share, well below analysts' estimates for 21 cents a share. For 2Q earnings are projected at $1.25 - $1.28, ahead of analysts' view for $1.16 a share. Fiscal 2006 earnings are seen at $1.50 - $1.55, in accordance with analysts estimate for $1.53 a share.

Chesapeake Corp. (CSK: chart) said Thursday that its 2Q loss from continuing operations grew to 10 cents a share vs. 2 cents a year ago. Excluding charges, income from continuing operations would have been $4.4 million, or 23 cents a share. Sales increased to $259.9 million form $239.3 million in last year's second quarter.

Allied Healthcare International Inc. (AHCI: chart) said Thursday that 3Q net income grew to $4.7 million vs. $3.3 million a year ago. Earnings available to common shareholders remained unchanged at 10 cents a share. Revenue for the quarter rose to $89.5 million vs. $81.9 million last year.

1-800 Flowers.com (FLWS: chart), online flower seller, Thursday posted 4Q of 6 cents a share, down vs. year-ago profit of 45 cents. Last year's quarter included a gain of $19.5 million from a tax benefit. Revenue jumped 15.2% in the latest quarter. The company sees revenue growth at 14 - 16% in the second half of the year.