Target same-store sales fall 4.1 percent in Feb.
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
Discount retailer Target Corp. says its same-stores sales fell 4.1 percent in February. That was better than analysts had expected, as shoppers bought necessities such as groceries and steered clear of apparel and home products.
Analysts expected sales in stores open at least one year, or same-store sales, to fall 4.8 percent.
The company says groceries and health products were the biggest sellers while apparel and home products were weaker. The average amount shoppers spent per trip fell during the month.
Total sales were flat at $4.37 billion.
The company expects March same-stores sales will decline in the high single digits and expects April same-store sales to be relatively flat.
Target's chief rival Wal-Mart Stores Inc. said same-store sales for the month rose 5.1 percent, far surpassing analyst expectations.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.
