Target: maintains guidance after strong holiday sales
(CercleFinance.com) - Target reported higher same-store sales for November and December on Thursday, driven by traffic and a slight increase in the average ticket, putting the retailer on track to reach its full-year 2018 guidance.
This morning, the company said same-store sales rose 5.7% in November and December, on the back of strong traffic, positive store comps and comparable digital sales that were up by 29%.
Given this performance, Target is now on track to deliver its strongest full-year comparable sales growth since 2005, it said.
More specifically, Target continues to expect fourth quarter comparable sales growth of approximately 5%. For the full year, the supermarket group still expects adjusted EPS of 5.30-5.50 dollars.
Shares of the Minneapolis-based chain fell 4.2% in premarket trading, after gaining about 7% over the past year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This morning, the company said same-store sales rose 5.7% in November and December, on the back of strong traffic, positive store comps and comparable digital sales that were up by 29%.
Given this performance, Target is now on track to deliver its strongest full-year comparable sales growth since 2005, it said.
More specifically, Target continues to expect fourth quarter comparable sales growth of approximately 5%. For the full year, the supermarket group still expects adjusted EPS of 5.30-5.50 dollars.
Shares of the Minneapolis-based chain fell 4.2% in premarket trading, after gaining about 7% over the past year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.