Target Corp. (NYSE: TGT) reported that January same-store sales rose 4.3%, more than double the 2.1% estimate from retail analysts. Total sales for the month totaled $4.61 billion, up 5.1% from January 2011.
This year’s same-store sales increase is far better than the 1.7% year-over-year jump Target reported for January 2011. In its statement, Target noted that sales were strong for both discretionary and non-discretionary items, and that “sales trends were healthy throughout the month and across the country.”
Shares are up about 2.4% in pre-market trading at $51.42 in a 52-week range of $45.28-$56.00.
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