WCCO EYE4 LOGO WCCO Radio wcco-eye-white01, ww color white

Local

Key November Sales Figure Falls At Target

View Comments
(credit: Justin Sullivan/Getty Images)

(credit: Justin Sullivan/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Full Interview: Jesse Ventura Talks After Trial
  2. 4 Things To Know For 7/30
  3. Remarkable Softball Player Gets A Look At His Dream Job
  4. Lake Calhoun Hosting Paddle For Humanity
  5. The Lowdown: 'N Sync Album & 'Sharknado 2'

MINNEAPOLIS (AP) — Target says a key revenue figure fell 1 percent in November, hurt by weak sales in the first two weeks of the month.

Analysts surveyed by Thomson Reuters had expected a 2.1 percent rise. Its shares fell 3 percent in premarket trading.

The decline comes in the midst of the crucial two month holiday season, when retailers can make up to 40 percent of annual revenue.

The Minneapolis-based company says total revenue for the four weeks ended Nov. 24 was nearly flat at $6.18 billion.

The company says weak sales early in the month offset stronger sales later. The South was its strongest region, while the Northeast, hard hit by Superstorm Sandy, was weaker.

Target Co. forecast a low-single digit percentage increase in December revenue at stores open at least one year.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus