Target’s same-store sales have been trending in the wrong direction.
The retailer, which posted a 2.7 percent third quarter gain in its comps, saw its store traffic increase 1.4 percent on top of a gain of nearly 13 percent in 2021. Target’s average ticket also improved 1.3 percent.
Comps broken out month by month show a 2.8 percent gain in August, followed by a four percent increase in September. October proved challenging, with same-store sales declining 0.9 percent. This occurred despite the Target Deal Days promotion run between October 6 and 8.