Target’s Comps Edge up 1.7% in October

Target Corporation reported net retail sales for the four weeks ended Oct. 30 reached $4.64 billion, up 2.2% from $4.54 billion for the same period a year earlier. On this same basis, October comparable-store sales increased 1.7%.

“October sales were near the low end of our expectations, primarily due to softness in the first two weeks of the month,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “Guest traffic remains healthy, and sales of non-discretionary items continue to outpace other categories. Sales trends throughout the store improved in the last two weeks of the month.”