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VOL. 36 | NO. 43 | Friday, October 26, 2012
Target October sales figure rises
MINNEAPOLIS (AP) — Discount retailer Target Corp. says a key revenue measure rose 2.4 percent in October as customers spent more on food and health and beauty items, but the number of people buying items was even with a year ago.
Results for the four weeks ended Oct. 27 were below the 3.3 percent rise analysts expected, according to a poll by Thomson Reuters.
Total revenue in October rose 3 percent to $4.98 billion. Food and health and beauty products were the strongest performers.
Revenue in stores open at least one year is a key gauge of a retailer's health, because it excludes results from stores recently opened or closed.
The Minneapolis company expects the revenue figure to rise by a low-single-digit percentage in November.