Poor Holiday Sales Leads Target (NYSE:TGT) to Trail Forecasts in Fiscal Fourth Quarter

The Minneapolis based Target Corporation (NYSE:TGT) announced on Wednesday that current month sales started slowly as shoppers face higher gas prices and payroll taxes, mirroring what Wal-Mart Stores, Inc (NYSE:WMT), the world’s biggest retailer, announced previous week.

Wal-Mart announced on Feb 21 that similar store sales current quarter will be little changed due to a slowdown current month.

Target, the second-biggest United States discount chain, announced revenue by that measure for Q1 may also be little changed or gain around 2%.

The retailer announced revenue for the year would hike almost 2%, failing to meet analysts’ forecasts for a boost of 3.9%.

Shares of Target tumbled 1.5% to settle at $63.12 in New York. Shares hiked 14% in previous 12 months evaluated against a boost of 11% for the Standard & Poor’s 500 Index.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Costco Wholesale Corporation (NASDAQ:COST) rose +1.29% to settle at $100.73, Dollar General Corp. (NYSE:DG) moved up +3.58% to end at $46.56 while Gordmans Stores, Inc. (NASDAQ:GMAN) jumped +0.76% to finish at $13.21 on Wednesday.

Target Corporation (NYSE:TGT) last session’s volume of 13.62 million shares was higher than its average volume of 5.22 million shares. The stock after opening at $62.31 hit high price of $63.75 and then closed at $63.12 by scoring -1.45%.

TGT generated revenue of $71.86 billion in the previous twelve months and earned $3.02 billion. The Company showed a positive 4.20% in the net profit margin as well as in its operating margin which remained at 6.33%. Company’s annual sales growth for the past five years was 3.27%.

The TGT’s past twelve months’ price to sales ratio was 0.57 and price to cash ratio remained 27.96. As far as the returns are concerned, TGT’s return on equity was recorded as 19.10% and return on investment increased 8.86% while its return on asset stayed at 6.16%.

The stock showed weekly upbeat performance of 0.75% which was maintained for the month at 3.85%. Likewise the positive performance for the quarter was recorded as 1.12% and for the year was 16.93% while the YTD performance remained at 7.29%.

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