Target Posts Soft Holiday Sales, Trims Comparable Sales View
The holiday season did not turn out to be a blissful one for Target Corporation TGT with sales coming in below expectations. The disappointing performance compelled this Minneapolis, MN-based company to trim fourth-quarter fiscal 2019 comparable sales growth forecast. The company informed that its key seasonal merchandise categories witnessed challenges throughout November and December period.Certainly, it was hard for investors to digest lower-than-expected holiday sales, given Target’s strong performance in the past. Evidently, shares of this general merchandise retailer fell roughly 6.6% during the trading session on Jan 15.
Sales at Toys & Electronics DisappointComparable sales in the combined November/December period increased 1.4%. This shows a sharp deceleration from growth ra ...