Target posts big same-store gain and raises forecast
November 17, 2021
Target posted a 12.7 percent gain in same-store sales for the third quarter, well above the 8.3 percent expected by analysts. The retailer, which saw its profit margins take a hit during the quarter, raised its annual forecast with a bullish outlook heading into the holiday season. “With a strong inventory position heading into the peak of the holiday season, our team and our business are ready to serve our guests and poised to deliver continued, strong growth, through the holiday season and beyond,” said Target CEO Brian Cornell.
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