Ugly Sweater display, OMG! Santa! I know Him! from the movie Elf, on display in Target store, Queens, New York.Â
Lindsey Nicholson | Getty Images
Target raised its fourth-quarter sales forecast Thursday after more consumers turned to its stores and website for holiday shopping — particularly on days known for deep discounts.
The big-box retailer now expects comparable sales in the fiscal fourth quarter to grow by about 1.5%. That’s better than its most recent outlook that the metric would be approximately flat. Comparable sales includes sales on Target’s website and stores open at least 13 months.Â
Yet the Minneapolis-based discounter did not lift its profit outlook — an indication that deals motivated shoppers. Target anticipates fourth-quarter earnings per share will range from $1.85 to $2.45 and full-year earnings per share will be between $8.30 and $8.90. Target will report full fourth-quarter earnings results March 4.
Target
