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Target Feb. Comps. Up 7.0% - Quick Facts

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3/1/2012 8:06 AM ET

Target Corp. (TGT: Quote) reported comparable-store sales growth of 7.0 percent for the month of February. Net retail sales for the four weeks were $5.13 billion, a 8.0 percent increase from $4.75 billion in the prior-year period.

President and Chief Executive stated, "February sales were well above our expectations, due to stronger-than-expected guest traffic combined with a solid increase in transaction size." The company also said it continues to plan for a first-quarter comparable-store sales increase of nearly 4 percent.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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