Target Released their Q3 results today and the Canadian performance is lagging well behind expectations.
To allow for comparability we have calaculated the average sales per store per day. To do this, we determined the # of days each store was open in the quarter, aggregated this total and divided it by the total sales amount. This method allows for some comparability among quarters within a growing portfolio.
Bottom line: the sales per store per day have been declining in Canada and are well below US levels which are in the neighborhood of $100,000.
More to come....
|Q3 (Released Nov 21) Period August 4 - Nov 2||Number of Stores (Ending)||91|
|Number of Store Days||6,809|
|Average Sales/ Store/ Day||$48,906|
|Number of Days in Quarter||90|
|Q2 (Released August 21) Period May 5 - August 3||Number of Stores (Ending)||68|
|Number of Store Days||4,689|
|Average Sales/ Store/ Day||$58,648|
|Number of Days in Quarter||91|
|Q1 (Released May 22) Period March 5 (CDN opening) - May 4||Number of Stores (Ending)||24|
|Number of Store Days||1,110|
|Average Sales/ Store/ Day||$80,979|
|Number of Days in Quarter|