Target Snowed In

The discounter lowers the high end of its February comps view.
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Target

(TGT) - Get Report

lowered the high end of its February sales forecast, citing last weekend's snowstorm in the Northeast.

The No. 2 discounter said same-store sales growth for this month will probably be 2.5% to 3.5%, down from its old forecast, which was for a gain of 2.5% to 4.5%. Target reported a 5.2% same-store sales gain in January, hitting the high end of its range and beating the view of analysts.

Sunday's storm dumped more than two feet of snow on New York and throughout New England. Target said business lost in the storm will crimp its February results.

The stock closed at $54.54 Monday.