MINNEAPOLIS--(BUSINESS WIRE)--Dec. 3, 2009--
Target Corporation (NYSE:TGT) today reported that its net retail sales
for the four weeks ended November 28, 2009 were $5,689 million, an
increase of 1.5 percent from $5,605 million for the four weeks ended
November 29, 2008. On this same basis, November comparable-store sales
decreased 1.5 percent.
“Sales were slightly below our expectations for November, as softer
results in the first three weeks of the month were substantially offset
by better-than-expected sales during our post-Thanksgiving Two-Day
sale,” said Gregg Steinhafel, chairman, president and chief executive
officer of Target Corporation. “Sales were stronger on Black Friday than
Saturday, with particular strength in electronics, toys, apparel,
domestics, small appliances and beauty. On-line sales during this
two-day period were also quite strong. For the month overall, comparable
store transactions were positive and inventories remain well-controlled,
giving us confidence in our ability to perform well during the holiday
season in what continues to be a challenging economic environment.”
|
|
|
Sales
|
|
Total Sales
|
|
Comparable Stores % Change
|
|
|
|
(millions)
|
|
% Change
|
|
This Year
|
|
Last Year
|
|
|
|
|
|
|
|
|
|
|
|
November
|
|
$5,689
|
|
1.5
|
|
(1.5)
|
|
(10.4)
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-date
|
|
$49,406
|
|
(0.1)
|
|
(3.6)
|
|
(2.6)
|
Target’s current sales disclosure practice includes a sales recording on
the day of the monthly sales release. Consistent with this practice, a
new message was recorded earlier today. The next sales recording is
expected to be issued on Thursday, January 7, 2010. These recordings may
be accessed by calling 612-761-6500.
Target Corporation's retail segment includes large general merchandise
and food discount stores and Target.com, a fully integrated on-line
business. In addition, the company operates a credit card segment that
offers branded proprietary and Visa credit card products. The company
currently operates 1,744 Target stores in 49 states.
Target Corporation news releases are available at www.target.com.
Source: Target Corporation
Target Corporation
Susan Kahn, 612-761-6735 (Investors)
or
Eric
Hausman, 612-761-2054 (Financial Media)
