Target tops Wall StreetPublished 10:56am Thursday, February 7, 2013
MINNEAPOLIS — Discount retailer Target Corp. said today that a key revenue measure rose 3.1 percent in January as shoppers bought holiday clearance merchandise.
Analysts had expected a 1.7 percent increase for the four weeks ended Jan. 26, according to Thomson Reuters.
The figure is based on revenue at stores opened at least a year and is considered an indicator of a retailer’s health because it excludes results from stores recently opened or closed.
Total revenue for the five weeks ended Feb. 2 were $5.97 billion, up 29.6 percent from a year ago.