- 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.