UPDATE 3-Target profit falls; sees sluggish sales growth

NEW YORK, May 20 (Reuters) - Target Corp (TGT.N: ) reported a 7.5 percent decline in quarterly profit on Tuesday as shoppers passed over clothes and jewelry in favor of basics like food, hurting the retailer's margins. The No. 2 U.S. discount chain behind Wal-Mart Stores Inc (WMT.N: ) said profit... [read full story]