Target lowers comp-store projection
April 24, 2007,
Minneapolis – Target Stores edged away from its previous estimate of April comparative store sales, saying that it now expects comps to be “much weaker than our initial plan of minus 2% to minus 4%” and that comps for the March-April combined period are expected to be up 3% to 4%, rather than the previous outlook of 4% to 6%.
The big discounter said it remains “comfortable that our first-quarter earnings per share growth will be consistent with our previous guidance for the full year” and also said comps for the first quarter are expected to be “about 4%.”
Actual sales for the four-week April period are set to be reported on Thursday, May 10.
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