New Delhi, March 3 -- Shares of Target Corporation jumped 6% in Tuesday's trade to reach the 11-month high of $119.65 apiece on the NYSE, even as the company reported another quarter of falling revenue and declining customer traffic at its stores.

However, the retailer's new CEO pledged a return to sales growth and issued an upbeat profit outlook, signalling a potential turnaround at the struggling company.

The company delivered another quarter of falling revenue and customer traffic at its stores, underscoring the challenges faced by new CEO Michael Fiddelke, a 20-year company veteran who succeeded longtime CEO Brian Cornell last month.

Target earned $2.30 per share, or $1.05 billion, for the three-month period ended 31 January. That ...