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September solid, but not enough to elevate comp outlook
How good was the 5.3% same-store sales increase Target reported for September? We know it was toward the upper end of the company’s official guidance that called for a low to mid single-digit gain, but according to Richard Hastings with Global Hunter Securities it was the company’s best showing in September since 2006.
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Ridicule continues around Target’s online effort
The relaunch of Target.com did not go as smoothly as the retailer and its customers would have like judging from the persistent backlash a month and a half after the site went live. Ad Age piled on last week with a piece about how friction between marketing and technology teams contributed to a wide range of functionality and customer service issues.