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Target Corp. Message Board

  • catbird_123 catbird_123 Oct 4, 2006 9:54 AM Flag

    no dice

     

    sales no way right this time.

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    • CHICAGO (MarketWatch) -- The nation's retailers are expected to post strong sales growth for September thanks to cooler weather, falling gasoline prices and a burst of late back-to-school shopping.
      Overall sales growth is expected to be healthy, according to analyst forecasts, but Hurricane Katrina, which slammed into the Gulf Coast a year ago, is expected to skew results at some retailers. The storm, from which New Orleans and other areas are still recovering, boosted year-ago sales at Wal-Mart Stores Inc. and other outlets that sell goods to prepare for the storm and clean up afterward. But it also muted sales growth at stores catering to discretionary spending, analysts said.
      At Thomson Financial, the cumulative rise in same-store sales is expected to total about 3.5%, down after Wal-Mart (WMT : Wal-Mart Stores, Inc.
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      Last: 49.42-0.04-0.08%

      3:32pm 10/04/2006

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      WMT49.42, -0.04, -0.1%) revised its forecast to a 1.3% gain. Excluding Wal-Mart's results, the Thomson Financial forecast rises to a 5.1% gain. The International Council of Shopping Centers is anticipating much the same.
      "We believe that September sales started off strong, benefiting from the late start to back-to-school [shopping] and continued their strength throughout the month as gas prices dropped and fall weather finally arrived," Pacific Growth Equities analyst Christine Chen wrote in a research note.
      Early reports of same-store sales, a closely watched measure of growth at stores open for a year or longer, have supported the analysts' expectations.
      On Wednesday, Wal-Mart revised downward its same-store sales gain to 1.3% from Saturday's projection of a 1.8% increase. See full story.
      Analysts were disappointed because they had expected lower gasoline prices to boost sales and help offset the tough comparisons from the Katrina effect. The company had predicted that sales would rise in a range of 1% to 3%.
      Mid-tier department store operator Kohl's Corp. (KSS : Kohl's Corporation
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      Last: 68.94+1.41+2.09%

      3:32pm 10/04/2006

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      KSS68.94, +1.41, +2.1%) , on the other hand, reported that same-store sales climbed 16.3% as shoppers stocked up on fleece, sweaters and denim all around the country.
      The rest of the results, most of which will be reported on Thursday, are expected follow a similar pattern, analysts said.
      "We believe this is going to be one of the strongest sales months this sector has seen in a long time," said Dana Cohen, a retail analyst at Bank of America. "Easy Katrina comparisons plus cool weather -- for once in September -- drove early fall sales."
      Gasoline prices, which have been blamed in recent months for hurting sales at a host of retailers, have fallen more than 20% since the year-ago average, and analysts say this should make consumers less worried about making multiple trips to the store.
      Retailers such as Wal-Mart, Target Corp. (TGT : target corp com
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      Last: 57.28+0.47+0.83%

      3:32pm 10/04/2006

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      TGT57.28, +0.47, +0.8%) , other big-box stores and those

      ETC ETC ETC

      YES, SALES ARE RIGHT THIS TIME

      CAROL

    • I'm guessing 4.2%. We'll see how the street reacts.

      • 1 Reply to rayk1800
      • As previously noted on this board, comps should be easy for some retailers due to easing energy prices and Katrina from last year. TGT is one of them, and will come in over the +5% mark with mature sales. Take it to the bank.

        As I posted weeks ago, this stock will continue to move up to the $60-$62 range in the next 4-6 weeks, where it will level off until after the first of the year.

 
TGT
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