Target, Inc.

MINNEAPOLIS - Despite an easy prior-year comparison, Target fell short of its December same-store sales guidance with a disappointing 0.9% gain. The company had forecast December comps in the low to mid single-digit range after it released November results, which saw comps advance 5.5%. Analysts were expecting the company to report a 4% December gain.

New York City -- Discounters reported mixed results for December sales, with many, including Target Corp. and Costco Wholesale Corp., posting gains that fell below analysts’ expectations.

Target Corp. said its same-store sales edged up 0.9%, well short of analyst expectations for a  4% increase. The chain said weaknesses in electronics, toys and some home categories offset strength in grocery and apparel items.

Expectations outpaced the willingness of consumers to spend during December, as large numbers of retailers reported results that were less than expected. Weather certainly affected the ability of shoppers to get to stores, as heavy rains pelted California and blizzards hit the Northeast, but that type of stuff happens in December. A bigger factor was that retailers were victims of their own success. Recall November was something of a promotionpalooza and shoppers found offers that arrived early and often to be irresistible.

Hammond, La. -- Covington, La.-based Stirling Properties, developer of Hammond Square, said that Charming Charlie will occupy a 9,911-sq.-ft. space on Main Street across from Books-A-Million and Shoe Department Encore.

The anticipated opening is spring 2011, and will accompany openings by Academy Sports + Outdoors and The Children’s Place.

This should be interesting. “Target: Inside the Bullseye” is scheduled to air on CNBC Thursday, Jan. 13 at 9 p.m. EST. The documentary will repeat that evening at 10 p.m., 12 a.m. and 1 a.m. and will also re-air again on Jan. 15 at 8 p.m. and 11 p.m.

With Target set to release December sales results this Thursday, the issue isn’t whether the company’s results will be in line with expectations but the degree by which they are likely to exceed same-store sales guidance in the low- to mid-single digit range.

By Craig R. Johnson

The Great Save promotion is back again at Target for the second year in a row. As was the case last year, the promotion is billed as something of a warehouse-club type shopping experience complete with sharp pricing on large-pack sizes combined with a little bit of the treasure hunt atmosphere to create the allure of discovering bargains.

The biggest difference between this year and last year is the Great Save promotion will be shorter. It runs through Feb. 5 this year, whereas last year it was in place for seven weeks or until nearly the end of February.