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Finish strong: heat and holiday timing to aid July sales
After a weaker-than-expected showing in June, Target needs a solid performance in July to deliver on its second quarter sales and profit expectations.
June same-store sales increased a modest 2.1%, well below a 4.4% increase in May, but the deceleration didn’t cause the company to adjust its second quarter guidance. The company expects second quarter earnings adjusted to exclude expenses related to its entry in Canada to range from $1.04 to $1.14 and earnings that include the Canadian costs to range from 94 centers to $1.04.