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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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Williams-Sonoma sees revenue growth across all brands in Q3
Home improvement retailers are reaping the rewards of a healthier housing market and so is Williams-Sonoma. The company reported strong third quarter results and raised its fourth quarter outlook as a result.
Comparable brand revenue growth in the quarter increased 8.2% on top of 8.5% in the year-ago quarter. The company saw revenue growth across all its brands, but results were primarily driven by West Elm, which saw revenue jump 22.2% compared to 13% last year, and PBteen, which saw revenue jump 16.7%, compared to 2% last year.