Groceries Impact Target's Q2 Comps

MINNEAPOLIS Target Corp. here last week said its expanded grocery initiative is driving more frequent shopping trips but also forcing down the average price per item sold, as the company's second-quarter sales were lower than expected. The company said comparable-store sales were up 1.7% for the period, which ended July 31, as the number of transactions increased 2.4% but the average sales ticket

MINNEAPOLIS — Target Corp. here last week said its expanded grocery initiative is driving more frequent shopping trips but also forcing down the average price per item sold, as the company's second-quarter sales were lower than expected.

The company said comparable-store sales were up 1.7% for the period, which ended July 31, as the number of transactions increased 2.4% but the average sales ticket declined slightly, in part due to the P-fresh remodels that have added more groc

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