Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss

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Go back to Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss

Target Reports November/December Sales and Updates Fourth Quarter 2016 Guidance

January 18, 2017 6:59 AM EST

MINNEAPOLIS--(BUSINESS WIRE)-- Target Corporation (NYSE: TGT) today announced that comparable sales during the combined November/December period decreased 1.3 percent. For those two months, total sales decreased 4.9 percent, reflecting the impact of the December 2015 sale of the Companys pharmacy and clinic businesses. As a result of this softer-than-expected sales performance, the Company updated its fourth quarter and full-year 2016 guidance.

"While we were pleased with Black Friday sales, December digital sales growth of more than 40 percent and continued strength in our Signature Categories, these results were offset by early season sales softness... More