Target letting down the market? Not in October

Target Corp. (NYSE: TGT) has been a retail darling for a few years now. The retailer shows impressive same-store sales gains every month, has a hip-and-chic image that is working (much to the chagrin of Wal-Mart Stores, Inc.) and overall has the attention of the American discount retail consumer more than any other discounter I can think of.

But that was then, this is now. A few months of readjusted sales guidance and expectations have left a nasty aftertaste in the mouth of a few investors. After same-store sales expectations were guided down in September and then again in October, the market is probably wondering what will happen to November same-store sales data for the retailer.

Will Target show a little rejuvenation for actual same-store sales results for October? It already did. This morning, the retailer reported October same-store sales growth at 4.1%, although analyst estimated had pegged the growth to top out at only 2.5%. So Target adjusted September and October sales results, only to have an October that was quite a bit above expectations.

Maybe instead of a short-term read on retail, analysts can take at least a few months into consideration before flying off the expectation handle. But then again, since when does the market look at long-term results? Those don't make headlines or bring in publicity, right?