Target December Sales Weak So Far, Costco “Pretty Good”

December 25, 2007 at 3:51 pm  ·  Category: Macro Economics, Stocks

Yesterday (Monday) after the close, in its mid month sales update, Target (TGT) said that same store sales for December, on a comparable basis, would likely come in between -1% and 1% - below previous guidance (call 612-761-6500 for the recorded message).

That comes on the heels of a weak November, in which comparable sales were up 1.1% and a weak September as well.  (October same store sales were up 4.1% but included the week of Halloween where the previous year didn’t).

The New York Times had an interesting article on Target’s problems yesterday: “How the Cooling Economy Is Stealing Target’s Christmas”.

On the other hand, in an interview yesterday Costco’s (COST) CFO said that holiday sales were “pretty good” (subscription required).

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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