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Awaiting December comps with breathless anticipation
Target chairman, president and CEO Gregg Steinhafel drew a proverbial line in the sand last month when he noted the company’s same-stores sales performance in December would be better than the company’s modest showing in November.
Actually, what he said was, “For the month of December, our comparable-store sales results will compare the five weeks ending Dec. 31, 2011 to the five weeks ended Jan. 1, 2011. We expect a low to mid single-digit increase in Target’s comparable-store sales for this period, stronger than our November performance.”
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Report: Consumers spent $44 billion on holiday 2011
Chicago -- Thanks to a last-minute shopping rush, Christmas 2011 will likely outpace its prior-year counterpart. According to a report released Wednesday by ShopperTrak, consumers spent approximately $44 billion in GAFO retail sales for the week ending Dec. 24, a 37.8% increase over the previous week and a 14.8% gain over the same week last year.
Foot traffic was also high, increasing 32.4% from the previous week.