Target February revenue figure up 1.8 percent
Target says a key revenue figure rose 1.8 percent for February, helped by sales of fresh food and by credit-card holders taking advantage of a 5 percent discount, but the results missed analyst expectations.
Analysts expected a 2.2 percent increase in revenue at stores open at least a year, according to Thomson Reuters.
Total revenue for the four weeks ended Jan. 29 rose 2.4 percent to $4.75 billion.
The company said revenue in stores open at least one year rose more than average in California, South Florida and the Mid-Atlantic but less than average in the Midwest, the Carolinas and the Northeast. Target expects the figure to fall for March.
In February, groceries and clothing sales rose while home products and electronics sales fell.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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