The big-box retailer still said it's seeing weaker discretionary spending and deal-hungry shoppers. The company said it expects the holiday quarter to look roughly the same, with comparable sales in a range of around a mid-single digit decline.on Wednesday topped Wall Street's quarterly sales expectations and blew past earnings estimates, as purchases in high-frequency categories like food and beauty helped prop up weaker customer spending.
Shares of the company rose more than 10% in premarket trading on the news, partially a reflection of the stock's drop so far this year. Yet the big-box retailer stared down the same challenges that it has faced over the past year. Shoppers aren't buying much more than the necessities. They're hungry for lower prices. And when they do make purchases, they're postponing them – such as waiting until the temperature drops to buy a pair of jeans or a sweatshirt, CEO Brian Cornell said. For the second straight quarter, Target's comparable sales decline