Target Lifts Comp Sales Outlook After Strong Holiday Shopping Season
Key Takeaways Target said Thursday that its holiday sales exceeded expectations, leading the retailer to lift its fourth-quarter comparable sales growth projections.The retailer said it had record sales during its Black Friday and Cyber Monday promotional events,
in Santas shopped the sales at Target, resulting in a better than expected holiday bump
The retailer saw record sales on Black Friday and Cyber Monday. (Elizabeth Flores/The Minnesota Star Tribune)
Target says its holiday sales were better than expected — but its profits weren't
Target raised its fourth-quarter sales forecast, as customer traffic across stores and its website rose and deals attracted holiday shoppers. The discounter said Black Friday and Cyber Monday saw record-high sales.
Target Revises Holiday Sales Outlook on Strong Apparel, Toy Demand
Analysts surveyed by LSEG had expected fourth-quarter comparable sales to rise 0.2%. However, the retailer maintained its forecast for fourth-quarter and full-year adjusted earnings per share to be in the range of $1.85 to $2.45 and $8.30 to $8.90, respectively.
Target’s Holiday Sales Show Signs of Life
The holidays brought more cheer than Target expected. Target said Thursday that same-store and digital sales in November and December rose 2% compared with the same period last year. Visits to stores rose 3% from last year and online sales increased by nearly 9%.
Target boosts Q4 outlook after strong holiday sales; announces C-suite retirements
Target had previously lowered sales outlook to flat growth after a disappointing third quarter. The improvement followed total sales growth of 2.8% during November and December and record sales during Black Friday and Cyber Monday promotions.
Target’s stock rises as holiday sales show rebound from third-quarter doldrums
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How Target, Walmart are positioning their store brands like Up & Up, Better Goods
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Hidden savings: The cost difference between shopping online and in-store at Target
Shoppers could spend more depending on where they buy their items. We compared Target prices online versus in-store.