Target to drop monthly sales reports

HTT Staff -- Home Textiles Today, 10/4/2012 12:08:17 PM

Minneapolis - Target this morning announced that beginning next year, it will no longer report monthly sales and comp results.
"This decision is based on discussions with many of our investors and is consistent with the practice of the vast majority of our retail peers," said John Mulligan, executive vice president and chief financial officer of Target Corporation. "We believe aligning our sales guidance and reporting with disclosure of our quarterly financial results will create a longer-term focus and provide greater understanding of our sales results in the context of our overall financial performance."
Walmart stopped reporting monthly results in 2009. JCPenney bowed out earlier this year. Macy's ceased the practice in early 2008, only to resume monthly disclosers later that year.