Target saves Q4 with January comps increase
MINNEAPOLIS — Target appears to have salvaged its fourth-quarter sales results with a 4.3% same-store sales increase in January to offset a disappointing 1.6% increase in December and a 1.8% increase in November.
January sales increased 5.1% to $4.6 billion during the four weeks ended Jan. 28, compared with the same period the prior year, while comparable-store sales advance 4.3% on top of a prior-year increase of 1.7%. The gain was driven equally by an increase in average transaction size and customer traffic. It also fell squarely within the company’s guidance range which called for a low to mid single-digit increase and was sharply higher than the disappointing monthly results the company reported for the first two months of the fourth quarter.
“January sales were near the high end of our expected low to mid single-digit range, reflecting strong performance in both discretionary and non-discretionary categories,” Target chairman, president and CEO Gregg Steinhafel said. “Sales trends were healthy throughout the month and across the country. These results reflect our commitment to delivering a superior experience and providing compelling everyday value on a unique assortment designed to satisfy our guests’ wants and needs.”
The 4.3% increase in January when blended with November and December results puts Target’s fourth-quarter same-store sales increase at 2.2%, toward the low end of its guidance range and below the 2.4% increase reported the prior year.
As in prior months, the strongest performance came in the areas of food and household essentials which are benefitting from expansion under the PFresh store remodeling program now in about two thirds of the company’s discount stores. Same-store sales in food increased in the low teens and household essentials increased in the mid single digits with the strongest gain coming in healthcare. The home category also increased in the mid single digits as did apparel, although Target noted the weakest segment of the category was women’s apparel. The only category that declined was hardlines which fell by a mid single digit percentage.
Target is expecting February same-store sales to increase in the low to mid single digits.
Vitamins & Supplements
The spring 2012 Vitamin & Supplement Ingredient Guide breaks down the indication, ingredients, purpose and dosage of Centrum Specialist Heart, One-A-Day Women’s Petites, DRS Health Complete One, Megavite Fruits & Veggies, Cosamin ASU, Omojo Acne & Tissue Support, NatureMade Krill Oil, Feosol and Slo-Niacin.
Jewel-Osco honors African-American vendors during Black History month
ITASCA, Ill. — Supervalu-owned Jewel-Osco has announced that it will celebrate Black History Month this February with its 13th annual “A Taste of Black History” program, a monthlong initiative to honor the contributions of Jewel-Osco’s African-American vendors and help them build on their success in the retail food business.
In addition to numerous in-store sampling events featuring African-American vendor products, Jewel-Osco will host a private reception on Feb. 16, from 6 p.m. to 9 p.m., at Chicago’s South Shore Cultural Center.
As part of the reception, NBC 5 Chicago entertainment reporter LeeAnn Trotter and WVON 1690 AM radio show host Matt McGill will emcee a special presentation, during which Jewel-Osco will award a total of $20,000 in grants to four community organizations:
Martin Temple A.M.E. Zion Church: Hunger Relief Award for its Spoonful of Hope Soup Kitchen;
Fellowship Missionary Baptist Church: Hunger Relief Award for its Community Table Food Pantry;
GreenNet Chicago: Environmental Stewardship Award; and
Girls in the Game: Nutrition Education Award.
“Our African-American vendors are important members of the Jewel-Osco family, and they are vital to our success,” Jewel-Osco president Brian Huff said. “We want to thank them for helping us meet the diverse needs of our customers every day, and we hope consumers recognize that by purchasing African-American vendor products they are supporting these of our customers every day, and we hope consumers recognize that by purchasing African-American vendor products they are supporting these wonderful entrepreneurs.”