Target Sees Jan. Same-Store Sales Hitting Goal Of Up 3.5%-5.5%

Target said in a mid-month update that same-store sales are on track to hit a previous forecast of 3.5% to 5.5% increase.

The Minneapolis, Minn.-based retail chain will report January sales on Thursday, Feb. 8.

Target said sales in the latest period are for a five-week period compared with a four-week period in the year earlier.

A year ago, Target posted same-stores sales growth of 5.2%.

Same-store sales is a measure of sales at stores open at least a year and are an important benchmark of a company's underlying strength.

When Target reports its January sales numbers it will provide them in two different ways-for the five weeks ending Feb. 3, and for four weeks ending Jan. 28. The company expects this will make for a better comparison.

Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • CNBC's David Faber reports Salesforce.com is raising its full-year forecast after beating Wall Street estimates, and revenues were above consensus helped by strong sales of its cloud-based software.

  • Craig Menear, Home Depot president of U.S. retail, will succeed Frank Blake as CEO in November. The "Squawk on the Street" news team discusses Menear's appointment.

  • The "Squawk Box" crew conducts its own wine in a can taste test. It's not bad, says Becky. I feel like I'm at mass, quips Joe.