Target Shares Jump on Q4, Full-Year Comparable Sales, Traffic Gains
Target posted its best full-year comparable sales growth, 5 percent, in more than a decade Tuesday, with Q4 comparable sales growth of 5.3 percent on a 4.5 percent rise in traffic. Comp store sales increased 2.9 percent; digital comps rose…
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31 percent, it said. Revenue for the quarter ending Feb. 2 was $22.98 billion vs. the $22.96 billion expected by analysts. Stores filled nearly three-quarters of the retailer’s Q4 digital sales, and the company reported market-share gains across its five core merchandise categories. It forecast low- to mid-single-digit comp sales increases for Q1 and full-year fiscal 2019. Shares closed 4.6 percent higher Tuesday at $76.