Target Dec. Same-Store Sales Fell 0.1%, Comfortable With 4Q Estimate - TheStreet

Target Dec. Same-Store Sales Fell 0.1%, Comfortable With 4Q Estimate

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Target

(TGT) - Get Report

said December same-store sales fell 0.1%, reversing analysts' expectations, but total sales rose 5.4% for the month.

Analysts polled by

First Call/Thomson Financial

were expecting same-store sales to increase 0.7% for the month. Total sales for the general merchandise retailer, which is based in Minneapolis, rose to $6.09 billion from $5.78 billion a year ago.

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The company said despite disappointing sales in December, it continues to expect fourth-quarter earnings that meet or exceed Wall Street's earnings forecast of 58 cents a share. The company earned 56 cents in the year-ago period.

Shares of Target gained 25 cents, or 0.7%, to $36.50 in recent

New York Stock Exchange

trading.