General merchandise retailer Target revealed that US retail sales rose 3.4% to $16.6bn (£10.43bn) for the third quarter ended October 27.

The increase was attributed to a 2.9% lift in like-for-likes as well as the contribution from new stores. Like-for-like increases were driven by a strong back-to-school season, gains in food and health and beauty, and a higher average transaction size.