Target Corporation Soaring 7% On Same-Store-Sales

Target Corporation TGT shares are soaring this morning, gaining more than 7% as the "cheap-chic" retailer reported same-store-sales this morning that beat expectations. The Minneapolis-based retailer said that stores open at least one year rose 4.5%. This compares to analyst expectations of a rise of 3.2%. The retailer said its move into groceries really helped sales, and as such, it was its strongest performer. The "P-Fresh" fresh food program really boosted sales in June. Target's total revenue for the five weeks ended July 2 rose almost 6% $6.26 billion. At last check, shares were trading at $51.87, a gain of $3.43‎ or 7.08%‎ on almost 700,000 shares.