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BRIEF-Target reports November/December sales and updates fourth quarter 2016 guidance
January 18, 2017 / 12:12 PM / a year ago

BRIEF-Target reports November/December sales and updates fourth quarter 2016 guidance

Jan 18 (Reuters) - Target Corp

* Target reports November/December sales and updates fourth quarter 2016 guidance

* Target Corp says updated its Q4 and full-year 2016 guidance

* Target Corp says combined November/December period total sales decreased 4.9 percent

* Sees FY 2016 adjusted earnings per share $5.00 to $5.10

* Target Corp says now expects Q4 comparable sales in range of negative 1.5 percent to negative 1.0 percent

* Target Corp says November/December comparable sales in Target stores declined more than 3 percent, partially offset by digital sales growth of more than 30 percent

* Target says in Q4 2016, sees both GAAP EPS from continuing operations and adjusted EPS of $1.45 to $1.55, compared with prior guidance of $1.55 to $1.75.

* Q4 earnings per share view $1.65 -- Thomson Reuters I/B/E/S

* Target Corp says holiday results hurt by early season sales softness and disappointing traffic and sales trends in stores

* Target Corp says Nov/Dec transactions were flat, as digital transaction growth of over 30 percent was offset by 1.7 percent decline in comparable store transactions

* Target Corp says comparable sales during combined November/December holiday period decreased 1.3 percent

* Target Corp says costs for accelerated mix shift between stores and digital channels, highly-promotional competitive environment had negative impact on Q4 margins, earnings per share Source text for Eikon: Further company coverage:

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