Retailer Target Corp. reported its net sales for the five-week period prior to September 30, were up 13.4 percent.
Overall, sales rose from $4.31 billion to $4.89 billion. Comparable-store sales increased 6.7 percent from for the same time period in September last year.
â€œOur sales in September were well above our expectations, driven in part by favorable weather,â€ said Bob Ulrich, chairman and chief executive officer of Target Corporation.
Target forecast a 3 percent to 5 percent increase in October same-store sales.
â€œAs a result of better-than-expected performance in our retail operations and the ongoing strength of our credit card operations, we now expect to produce third quarter earnings per share above the current median First Call estimate of 53 cents,â€ Ulrich added.