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Tuesday, May 11, 2010
Don't Fret, Target's a Good Bet
Barron’s
TARGET MISSED THE MARK in April, recording a year-over-year same-store sales drop of 5.9% versus analysts' expectations of a 2.3% drop.
Shares fell 3% in morning trading on Thursday, before recovering to trade about flat by early afternoon.
Target also gave guidance for much better results for May, suggesting that the sales slump may be short-lived. The company said it expects to post same-store sales results of mid-to-high single digits, noted Brian Sozzi of Wall Street Strategies. Target also said it expects to meet or beat analysts' expectations for first-quarter earnings of 86 cents per share.
Link to full article: http://online.barrons.com/article/SB127309508007787217.html?mod=BOL_hpp_oe
Posted by Brian Sozzi, Research Analyst
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6/4/2010 - Euro worries stalk Guess, whose shares fall 7 pct
6/4/2010 - May Sales: What Retailers Aren't Saying
6/4/2010 - Retail Diamonds in the Rough
6/4/2010 - Wal-Mart execs to be scrutinized as shareholders seek views on bolstering US namesake business
5/11/2010 - Retailers Fall As April Same-Store Sales Disappoint
5/11/2010 - Coach Caters to Men With New NYC Shop
5/11/2010 - Don't Fret, Target's a Good Bet
5/11/2010 - US same-store sales disappoint
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