I can't say why for sure, but maybe Target could've used some Red Kettles at its stores to help things along...hehe
NEW YORK (CBS.MW) - Retail behemoth Wal-Mart hit its mark Thursday, reporting December same-store sales in line with Wall Street expectations while holiday sales at other retailers were mixed.
December sales at Wal-Mart (WMT: news, chart, profile) stores open longer than a year grew 3 percent, matching the Bentonville, Ark., company's forecasts, but down from the 4.3 percent growth in same-store sales in December 2003.
Wal-Mart said Thursday it doesn't see the pace picking up significantly in January, and forecast same-store sales growth of 2 to 4 percent for this month. Wal-Mart shares rose 1.4 percent to $54.05
Target Corp. (TGT: news, chart, profile) shares slid 5.4 percent to $48.50, after it said December same-store sales rose 5.1 percent. But it warned that fourth-quarter results would come in below the average estimate of analysts polled by Thomson First Call for earnings from continuing operations of 94 cents per share.
Thursday, January 06, 2005
The Red Kettle Effect?
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