Target (TGT) Reports 1.7% Rise in January Comps
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Price: $144.49 -0.01%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.2%
EPS Growth %: +10.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.2%
EPS Growth %: +10.2%
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Target (NYSE: TGT) reports total sales for the month of January were $4.383 billion, up 2.2% from the same period last year. Same store sales rose 1.7%
Gregg Steinhafel, chairman, president and CEO of Target, said, "Target’s January comparable-store sales were below expectations, particularly in portions of the South and the Northeas. Our PFresh remodel program continues to drive incremental traffic and sales, and our new REDcard Rewards 5% savings program continues to perform as expected. While we expect the economic environment to remain challenging, we expect these two initiatives to drive even more meaningful increases in Target’s fiscal 2011 comparable-store sales."
Gregg Steinhafel, chairman, president and CEO of Target, said, "Target’s January comparable-store sales were below expectations, particularly in portions of the South and the Northeas. Our PFresh remodel program continues to drive incremental traffic and sales, and our new REDcard Rewards 5% savings program continues to perform as expected. While we expect the economic environment to remain challenging, we expect these two initiatives to drive even more meaningful increases in Target’s fiscal 2011 comparable-store sales."
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