Target lowers sales forecast for month
From Times Wire Services
Target Corp. cut its October forecast, saying sales at stores open at least a year might rise no more than 4%.
Same-store sales will increase 2% to 4% for the four weeks through Nov. 3, the Minneapolis-based company said. Target had projected a gain of 3% to 5%. Comparable sales at Target rose 3.9% in the same period last year.
Target said “greater than normal daily volatility and continued disappointing sales results” prompted it to lower the forecast.
