Updated:

Mar 8, 2018

Original:

Aug 2, 2012

Target surprises Wall Street with higher July sales

Target Corp. said Thursday sales at stores open at least one year rose 3.1 percent in July, higher than the 2.7 percent that Wall Street analysts had expected. Total sales rose 3.2 percent to nearly $5 billion for the four-week period that ended July 28, Minneapolis-based Target said in a news release.

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Target Corp. said Thursday sales at stores open at least one year rose 3.1 percent in July, higher than the 2.7 percent that Wall Street analysts had expected. Total sales rose 3.2 percent to nearly $5 billion for the four-week period that ended July 28, Minneapolis-based Target said in a news release.

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Target Corp. says its same-store sales grew 2.4 percent in October, Forbes reports. Analysts were projecting same-store sales growth of 3.3 percent last month. The Minneapolis-based discount giant's total sales climbed 3 percent to $4.98 billion in October.

The Minneapolis-based retailer's store sales shot up more than 5 percent last month, beating Wall Street and their own expectations. Target officials say their net retail sales are now topping $40 billion for the year so far.

Shoppers spent less than Wall Street estimates expected in April. The Minneapolis-based retailer reports a key sales figure rose 1.1 percent last month. Foot, health and beauty continue to be the strongest categories. First-quarter sales were the strongest in more than six years, up 5.3 percent.

The Minneapolis-based cheap chic discount giant posted better-than-expected second-quarter revenue. Target also raised its full-year profit outlook for the third quarter that is well above analysts' expectations.

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.

The Minneapolis-based discount retailer says a key sales figure rose 7.3 percent in March. Target says the strongest performers included food, household essentials, clothing and health care items. Electronics were among the weakest.

After a disappointing sales year in 2010, Target corporation is announcing a major sales push next week on televisions, cameras, video games and cookware. However, the Minneapolis-based retailer did not release any specifics about the discounts.

The Minneapolis-based retail giant says food and health care products were the strongest categories. Analysts expected a 5.2 percent rise.

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