Target Reports Positive Holiday Season
TARGET STOCK RISES ON REPORT OF STRONG HOLIDAY SALES
(CNN) – Holiday sales for retail giant Target were well, right on target.
The company reports that overall sales were up 3.4% in November and December.
The holiday boom prompted Target to increase its earnings forecast, not just for the forth quarter, but for the whole year.
Investors appear to have taken notice; with Target’s stock price rising in pre-market trading.
Target is the most recent large retailer to report strong holiday sales:
According to Mastercard spending pulse, U.S. retail industry sales were up nearly 5%.