Target raised its fourth-quarter sales forecast, as customer traffic across stores and its website rose and deals attracted holiday shoppers. The discounter said Black Friday and Cyber Monday saw record-high sales.

Target raised its holiday-quarter comparable sales forecast on Thursday, buoyed by robust shopper demand for clothing, toys and beauty products during November and December, but profit margin concerns sent its shares down nearly 3%.

Minneapolis-based Target Corporation reported its quarterly earnings Thursday, showing a slight increase in sales following a holiday boost. Total sales in November and December grew 2.8% — more than in 2023 — according to a Target press release.