Target sees holidays boosting sales to 3-yr high

Target Corp (TGT.N) expects to post its best same-store sales in three years during the upcoming holiday season, sending its shares up as some analysts bet it will outpace larger rival Wal-Mart Stores Inc (WMT.N).

The discount chain benefited from the strong performance of its credit card business in its third quarter and believes it will lure more shoppers during the holidays with a new credit card program that offers 5 percent off all purchases.

Target shares rose 3.4 percent on Wednesday. Wal-Mart said on Tuesday it expected to break a six-quarter streak of same-store sales declines in the United States during the holiday shopping season in the fourth quarter.

Read Full Article from Reuters

- Posted: 2010-11-17 09:36:55

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