Target Will No Longer Report Monthly Sales

It joins a growing list of major retailers stopping the practice

   

Target Will No Longer Report Monthly Sales

Discount retailer Target (NYSE:TGT) announced on Thursday that it will no longer issue monthly sales reports.

The statement came after the chain revealed sales figures for September, showing a 2.1% rise in same-store sales during the month. That fell just short of 2.2% rise that analysts had predicted, Dow Jones noted.

Target 1 200x200 Target Will No Longer Report Monthly Sales
Target is Still A Dividend Machine

Company officials said the move to stop monthly sales reporting brought Target in line with the “vast majority” of other retailers and would allow the company to build a longer-term view of its overall financial performance.

A number of other prominent retail chains have opted to stop monthly sales reporting in recent years, including Wal-Mart (NYSE:WMT), J.C. Penney (NYSE:JCP) and Saks (NYSE:SKS).

In August, a study found that prices at Target were lower than those at rival Wal-Mart. That marked the first time since October 2011 that Target could claim to have cheaper prices than its big-box competitor.

Shares of Target rose just under 1% in Thursday morning trading, holding above $63 a share.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/target-will-no-longer-report-monthly-sales/.

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