Target Higher Despite Missing Estimates (TGT)

Shares of Target Corporation TGT are higher on the day, despite missing analyst's expectations for its August same-store-sales. Target reported a 1.8% gain in sales for stores, and analysts were expecting 2%. Despite the blip, the Minnesota-based retailer was upbeat about the consumer, saying customer traffic was healthy throughout the month, and that the August was in-line with its own expectations. J.P. Morgan retail analyst Charles Grom said Target can attribute its weakness to very warm weather during the month, and a smaller inventory of summer wear still in stock. Target is gaining 45 cents on the day, good for a gain of 0.86%, to trade at $52.69. Target Corporation operates general merchandise and food discount stores in the United States. The company offers household essentials; hardlines, including electronics, music, computer software, and toys; apparel and accessories, jewelry, and shoes.