At a glance: Wal-Mart Stores vs. Target

[November 18, 2008]  (AP)  Discount retailers are performing better than some others amid the weak economy as hunt for bargains, but Wal-Mart Stores Inc. has been performing better than Target Corp., due to its focus on groceries and low prices.

Here's a side-by-side comparison of how each did in the third quarter.

EARNINGS:

• Wal-Mart Stores Inc. said its profit rose 10 percent to $3.14 billion, or 80 cents per share, from $2.86 billion, or 70 cents per share, a year earlier.

• Target Corp.'s profit fell 24 percent to $369 million, or 49 cents per share, from $483 million, or 56 cents per share, last year.

SALES:

• Bentonville, Ark.-based Wal-Mart's sales for the quarter rose 7 percent to $98.64 billion.

• Minneapolis-based Target's revenue rose 2 percent to $15.11 billion.

SAME-STORE SALES:

• Sales in stores open at least one year rose 3 percent at Wal-Mart.

• Same-store sales fell 3.3 percent at Target.

FOURTH-QUARTER OUTLOOK:

• Wal-Mart says it expects earnings from continuing operations for the fourth quarter of $1.03 to $1.07 per share. Analysts polled by Thomson Reuters, on average, had expected $1.11 per share.

• Target says if same-store sales continue to fall in the mid-single digit range, it expects fourth-quarter earnings of 90 cents to $1 per share. Analysts had expected earnings of $1.22 per share.

HOLIDAY PLANS:

• Both companies say they are slashing prices on a range of holiday gifts from toys to electronics. Target says it will match Wal-Mart's prices on identical items in local markets.

[Associated Press]

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