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Target sales deteriorate faster than expected
Add Target to the list of retailers whose weak third quarter sales performance highlighted troubling spending behaviors that threaten to undermine its holiday sales performance.
The company reported disappointing third quarter sales and profits Thursday morning and then stated the obvious that shoppers will price sensitive during an intensely competitive holiday season. The company said same store sales increased 0.9%, slightly less than the company’s forecast provided on August 21 which called for an increase of 1% to 2%.
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Bon-Ton looks to e-commerce as it heads into holiday
Bon-Ton is looking ahead to the holiday selling season, and focusing its marketing efforts on driving shoppers not only to stores but also to its e-commerce site.
The company saw comparable store sales for the third quarter decrease 2.8%. But the company was able to narrow its loss to $0.9 million, or $0.05 per diluted share, from $10.1 million, or $0.55 per diluted share, for the third quarter of fiscal 2012.