Target (TGT) Sept Comps Up 6.7%; Sees Q3 EPS Above Consensus

October 5, 2006 8:28 AM EDT
Target Corporation (NYSE: TGT) September comparable-store sales increased 6.7 percent from fiscal September 2005. Net retail sales for the five weeks ended September 30, 2006 increased 13.4 percent to $4.885 billion from $4.306 billion for the five-week period ended October 1, 2005.

CEO, Bob Ulrich, said, ""As a result of better-than-expected performance in our retail operations and the ongoing strength of our credit card operations, we now expect to produce third quarter earnings per share above the current median First Call estimate of 53 cents."

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Guidance, Hot List, Retail Sales