MINNEAPOLIS--(BUSINESS WIRE)--Nov. 8, 2007--Target Corporation
(NYSE:TGT) today reported that its net retail sales for the four weeks
ended November 3, 2007 increased 9.7 percent to $4,445 million from
$4,054 million for the four-week period ended October 28, 2006. On
this same basis, comparable-store sales increased 4.1 percent.
"Due to strength in the last week of the month which benefited
from year-over-year Halloween timing, our October comparable store
sales were at the high end of the range provided in our mid-month
update," said Bob Ulrich, chairman and chief executive officer of
Target Corporation. "However, for the second straight month, we
experienced soft sales in our higher margin categories."
Sales Total Sales Comparable Stores % Change
--------------------------
(millions) % Change This Year Last Year
---------- ----------- ------------ -------------
October $ 4,445 9.7 4.1 3.9
Third Quarter $14,342 9.0 3.7 4.6
Year-to-date $42,132 9.1 4.3 4.8
As a reminder, our current sales disclosure practice includes a
sales recording on the day of our monthly sales release and one
mid-month sales update. Consistent with this practice, a new message
was recorded earlier today. Our next sales recording is expected to be
issued after the market closes on Monday, November 19, 2007. These
recordings may be accessed by calling 612-761-6500.
Target Corporation's operations include large, general merchandise
and food discount stores and a fully integrated on-line business
through which we offer a fun and convenient shopping experience with
thousands of highly differentiated and affordably priced items. The
company currently operates 1,591 Target stores in 47 states. Target
Corporation news releases are available at www.target.com.
CONTACT: Target Corporation
Susan Kahn, 612-761-6735
or
John Hulbert, 612-761-6627
SOURCE: Target Corporation
