SOURCE: The Bedford Report

The Bedford Report

October 13, 2010 08:46 ET

Penny Wise Customers Flock to Discount Retailers

The Bedford Report Provides Analyst Research on Target and Big Lots

NEW YORK, NY--(Marketwire - October 13, 2010) -  Discount variety stores have fared better than other retailers during the employment crisis. With unemployment rates remaining high and economic turbulence continuing, shoppers are still looking to save on purchases. Consumers are staying away from non-essential purchases but for the most part, stores offering dry goods and other essential items have been doing well. The Bedford Report examines the outlook for companies in the Discount, Variety Stores Industry and provides research reports on Target Corporation (NYSE: TGT) and Big Lots, inc. (NYSE: BIG). Access to the full company reports can be found at:

Discount retailers benefitted from an impressive, albeit not spectacular, back-to-school season. The back-to-school sales season is the second largest on the US retail industry's calendar and given the high unemployment, discount variety stores took advantage of penny wise parents and students alike looking to pay less. Target said sales of back-to-school items and food helped revenue in stores open at least a year rise 1.8 percent in August. But the discount retailer's results fell just short of Street expectations for a 2 percent increase. Target stated that food, health care and beauty products were the strongest sellers, while electronics and home decorations were weaker.

The Bedford Report releases regular market updates on the Discount, Variety Stores Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at and get exclusive access to our numerous analyst reports and industry newsletters.

When Big Lots reported earnings back in August, the company took the opportunity to raise its full year guidance, claiming it expects operating profit as a percentage of sales for the year to rise to 7.3% to 7.5%, up from last year's 6.9% margin. Big Lots says it expects income from continuing operations of between $2.82 and $2.90.

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