Target Corp. (NYSE:TGT) just posted its same-store-sales figures for October, and it is considerably better than the situation over at Fall-Mart. Target posted a gain of +4.1% on a comparable basis. Analysts were only expecting about +2.5%, and that is at the higher-end of its recently offered range.
One interesting aspect though is that the retail giant said it experienced soft sales in higher margin categories for the second straight month. Does that lead to earnings or margin pressure? So far Wall Street doesn’t seem to think so, or it doesn’t matter as much.
Target’s total sales were up 9.1% for the four weeks to $4.445 Billion, so now we have sales for the quarter listed as roughly $14.342 Billion.
Shares of Target are now up about 3.7% at $61.00 in pre-market trading reaction. Costco Wholesale shares are currently up 1.3% at $67.00 and Wal-Mart shares are up 1.3% at $44.50 in pre-market trading about 45 minutes before the open.
Jon C. Ogg
November 8, 2007
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
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.