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NEW YORK Target said its same-store sales rose 1.3% in September, missing Wall Street's expectations for a 1.9% gain. Total sales for the five weeks ended Oct. 2 rose 3.1% to $5.56 billion.
Coming in a month that was relatively positive for most retailers, the results represent a setback in Target's quest to turn around sales with a focus on groceries and marketing that emphasizes low prices.
The chain said Thursday that grocery, beauty and healthcare sales were strong, but that its monthly performance was near the low end of expectations.