Target Corp. Announces Sales Results for the Five Weeks, Quarter to Date and Year to Date Ended December 29, 2012; Revises Earnings Guidance for the Fourth Quarter 2012
On quarter-to-date basis, sales were $16,397 million, increased 0.4%. Comparable-store sales decreased 0.4%.
On year-to-date basis, sales were $65,987 million, increased 3.3%. Comparable-store sales increased 2.9%.
The company revised fourth quarter 2012 earnings guidance. The earnings per share will meet or somewhat exceed the low end of its prior guidance. Adjusted EPS of $1.64 to $1.74 and GAAP EPS of $1.45 to $1.55. The 19-cent difference between these ranges reflected the expected EPS impact of expenses related to the company's Canadian market entry.