Check out Target sales again missing their forecast.
When it comes to monthly sales, Target’s are once again missing the mark.
On Monday, the discount retailer cut its October same-store sales forecast to an increase of 2 to 4 percent. The previous forecast called for a 3 to 5 percent increase.
Target cited “greater-than-normal daily volatility and continued disappointing sales results for the first two weeks of November.”
Target’s mid-month sales update is closely watched by investors because it is one of the earliest signs of how retail sales in general might be going.
As we get closer to the key holiday shopping season, sales are even more closely scrutinized for signs of whether the U.S. economy is slowing into a consumer-led recessions.
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