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Target Reports Disappointing Holiday Sales

01/17/2020

On January 15th, Target announced that same store sales during November and December were up 1.4 percent compared with 5.7 percent for the pre-Christmas period in 2018. Despite the low growth rate, the company will achieve previous guidance for the last quarter of 2019.

 

In commenting on sales, Brian Cornell, CEO, stated, “We faced challenges throughout November and December in key seasonal merchandise categories.” He added, “Because of the durability of our business model, we are maintaining our guidance for our fourth quarter earnings per share.”

 

Food and beverage sales were up three percent from the period November 1st through December 24th, while home items were down one percent. Apparel and electronics were up five percent and six percent respectively.


Brian Cornell, Target CEO