Target misses July sales targets, Wal-Mart rises (at bizjournals.com)

Atlanta Business Chronicle - by Carissa Wyant Staff Writer reported a 1.2 percent dip in its same-store sales for July, missing expectations. Minneapolis-based retail giant Target (NYSE: TGT) said results are in at the low end of its expectations. It was predicting a 1 percent decline to a 1 percent increase, while analysts polled by Thomson Financial had expected a same-store sales decline of 0.3 percent. In a recorded announcement Thursday, the company said total sales for the four weeks ended Aug. 2 were up 4.7 percent to $4.57 billion. Sales in electronics, health and perishable items drove sales. It saw its strongest sales in the northeastern part of the U.S. Meanwhile, rival Wal-Mart Stores Inc. (NYSE: WMT) of Bentonville, Ark., reported a 3 percent gain in its July same-store sales. However, it also missed estimates,... [read full story]