Target Corp. (NYSE:TGT) is slightly lowering its comparable sales targets for October, no pun intended. The company previously forecast a 3% to 5% gain for October sales, but now it said in its dial-up conference call recording that it sees sales coming in at a range of 2% to 4%. The blame: "Greater than normal daily volatility and continued diappointing sales results…."
On September 11 it reported comparable sales of 1.2% gains for September and it said it believed that full year guidance would come in under $3.60 on an EPS basis. Shares closed up 1.28% today, but shares are down 0.25% at $61.40 in after hours trading after initially indicating down almost 1%.
It seems that Wall Street isn’t punishing slightly lower numbers from retailers as long as the numbers aren’t atrocious. What is obvious is that many are still betting that Joe Q. Consumer won’t be quite as dead as the public always worries about.
Here was what 24/7 Wall St. thinks about Barron’s commentary on Sears Holdings (NASDAQ:SHLD) this weekend, and how we think it ties into Target Corp.
Jon C. Ogg
October 22, 2007
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.