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October comps up 2.4% at Target
A 2.4% same-store sales increase during October was toward the low end of Target’s expectations, but it wasn’t enough to prevent the company from achieving its guidance for the third quarter.
Target reported that its net retail sales for the four weeks ended Oct. 27 were nearly $5 billion, a 3% increase from $4.8 billion reported during October 2011. The 2.4% comp increase was on top of a prior year gain of 3.3%.