NEW YORK (TheStreet) -- Target (TGT) shares are up 0.9% to $58.21 on Monday following reports that the company was extending weekday store hours to midnight at more than half of its American stores, according to the Wall Street Journal.
The retailer's decision to extend store hours may be a response to flagging sales and recent bad press related to the biggest data breach in U.S. history in which 40 million credit card numbers were stolen from the company's computer system.
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Target has been cutting prices in an effort to regain customers lost to competitors like smaller stores and online retail.
The extended hours will begin this month and continue through the holiday season at which point the success of the program will be evaluated.
TheStreet Ratings team rates TARGET CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TARGET CORP (TGT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."