Target’s Key Revenue Metric Rises 4.3 Pct
MINNEAPOLIS (AP) — Target Corp. says its revenue at stores open at least a year rose 4.3 percent in January, easily topping Wall Street’s expectations.
The discount chain says sales were strong throughout the month across the U.S. Analysts surveyed by Thomson Reuters expected a smaller 2.1 percent increase.
This figure is a key gauge of a retailer’s health because it excludes results from stores recently opened or closed.
Target said Thursday that total revenue for the four weeks ended Jan. 28 rose 5.1 percent to $4.61 billion.
Target, which is based in Minneapolis, says year-to-date revenue at stores open at least a year rose 3 percent, with total revenue up 4.1 percent to $68.47 billion.
Target runs 1,763 stores in the U.S.
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