Hot Weather, Hot Sales for Retailers
Thursday, July 7, 2011
Spurred by warmer weather, lower gas prices and discounted merchandise, shoppers gave the retail industry a welcome boost in June.
Target Corp. in particular saw numbers rise in both consumer traffic and size of transactions last month. The Minneapolis-based discounter said same-store sales rose a strong 4.5 percent compared with a year ago.
That beat Wall Street expectations of 3.1 percent and sent shares of Target stock soaring $3.23 to close at $51.67, its highest close since May 11.
And Target wasn't alone.
Originally published: 07/07/2011, Star Tribune