Target says planning business conservatively

NEW YORK (Reuters) - Target Corp's (TGT.N) President Gregg Steinhafel said on Tuesday that as it looks toward the remainder of the year, it is planning business more conservatively.

He made the comment on a conference call with analysts, after the retailer earlier in the day had reported higher second-quarter earnings.

Also on the call, Chief Financial Officer Douglas Scovanner said Target's prospects of earning slightly more than $3.60 per share for the full year are roughly equal to the prospects of earning slightly less.

Earlier, Bob Ulrich, Target chairman and chief executive officer, in a statement said the company still believes "that $3.60 remains within the range of likely outcomes for our full-year 2007 earnings per share."

(Reporting by Nicole Maestri)