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.

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Originally published: 07/07/2011, Star Tribune