Target Total Holiday Sales Rise, Expects Growth In Q4 Comparable Sales

(RTTNews) - Target Corp. (TGT), Thursday reported sales update for November and December, revealing an increase of 2.8 percent and 2 percent in total sales and comparable sales, respectively, over the previous year.

The increase in the holiday sales was recorded across both stores and digital channels with both Black Friday and Cyber Monday promotional periods seeing record-high sales. Digital sales grew by around 9 percent than last year.

Looking ahead to the fourth quarter, the retail chain continues to expect an increase of about 1.5 percent in comparable sales. Moreover, Target sees adjusted earnings of $1.85 to $2.45 for the quarter, and $8.30 to $8.90 for the full year.

In the pre-market hours, Target's stock is trading at $138, up 2.58 percent on the New York Stock Exchange.