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Competitor performance offers mixed bag in November
Same store sales in November at Target plunged unexpectedly while apparel discounters and Costco kept humming and Kroger extended its string of consecutive comp increases to nine years.
The nations second largest grocer this week reported a third quarter profit, excluding some non-recurring items, of 46 cents that was three cents better than analysts forecast and its identical store sales increased by 3.2%. Total sales including fuel for the period increased 5.9% to $21.8 billion.
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Perfect storm dents Party City’s performance
The modest sales decline Party City reported for the five week period ended November wasn’t all that bad considering the unfavorable circumstances the company faced.
Sales declined 1.4% to $358 million and same store sale declined 0.6% at permanent stores and 11.9% at temporary locations, the company said.