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.