Target sales beat expectations, add to strong August for retailers - Bring Me The News

Target sales beat expectations, add to strong August for retailers

Target saw sales figures climb more than four percent for the first four weeks of August. That beat the expectations of analysts who thought the Minneapolis retailer would barely clear three percent. Back to school retail spending was generally strong around the country, even though surveys show consumers are uneasy.
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Same-store sales at Target were up 4.2 percent during the first four weeks of August compared to a year ago. That beat the 3.1 percent increase analysts had forecast.

CEO Greg Steinhafel says sales got stronger as the month wore on and the return to the classroom drew nearer.

The increased spending comes even as consumer surveys show Americans are apprehensive about the economy. But some parents -- like a Minnesota mother who spoke to CNBC -- say they saved their nickels for months preparing for back to school expenditures.

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