Target Raises 4Q

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Target Raises 4Q
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Target Corp. survived the bruising 2017 holiday season, and then some.The Minneapolis-based retailer on Tuesday raised its fourth-quarter and full-year 2018 guidance based on its stronger-than-expected performance over the holiday and recently enacted federal tax reform. The retailer's results led to comp-store sales growth in the combined November and December period of 3.4 percent, compared with the expected range of 0 percent to 2 percent. All of the retailer's core merchandise categories, including home, apparel, food and beverage, hardlines and essentials, posted positive comps and accelerated from the third quarter, reflecting strong traffic growth and continued strength in digital sales.Target now expects 2017 will be the fourth consecutive year that digital sales post growth of more than 25 percent."We're very pleased with our holiday season performance, which reflects the progress we've made against our strategy throughout the year," said Brian Cornell, chairman and chief executive officer of Tar ...

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