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Target outpaces Wal-Mart in U.S., loss in Canada narrowed

Nov. 19, 2014 8:19 AM ETTarget Corporation (TGT) StockBy: Clark Schultz, SA News Editor7 Comments
  • Target (NYSE:TGT) reports a 1.2% gain in comparable-store sales for the U.S. segment in Q3. The mark is better than 0.5% comp that Wal-Mart recorded for an overlapping period.
  • U.S. segment transactions -0.4%. Average transaction price +1.6%.
  • Sales in the Canada segment were up 44% - slightly below expectations. Gross margin rate in Canada fell in at 14.8%.
  • Digital sales rose 30% during the quarter.
  • Consolidated SG&A expenses rose 1.1% to $3.894B.
  • Inventory +26.2% to $11.066B, due in part to the higher store count in Canada.
  • Guidance: Q4 EPS of $1.13-41.23 expected vs. $1.22 consensus and full-year EPS of $3.15-$3.25 vs. $3.19 consensus.
  • TGT +2.7% premarket.

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