Financial News Release

Target Reports February Sales Results
03/01/12
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MINNEAPOLIS--(BUSINESS WIRE)--Mar. 1, 2012-- Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended February 25, 2012 were $5,132 million, an increase of 8.0 percent from $4,750 million for the four weeks ended February 26, 2011. On this same basis, February comparable-store sales increased 7.0 percent.

“February sales were well above our expectations, due to stronger-than-expected guest traffic combined with a solid increase in transaction size," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "We’re very pleased with the pace of our sales since the holiday season, though we continue to plan for a first-quarter comparable-store sales increase of around 4 percent.”

  Sales   Total Sales  

Comparable Stores % Change

(millions)

% Change

This Year

 

Last Year

February $5,132 8.0 7.0 1.8
 

Miscellaneous
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, April 5, 2012. These recordings may be accessed by calling 866-526-7639. Text versions of our recordings are available on our Investor Relations website, http://www.target.com/investors, by clicking on “Financial News” and then “Monthly Sales Summaries.”

The statement in this release regarding first quarter comparable-store sales is a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date it is made and is subject to risks and uncertainties which could cause the company's actual results to differ materially. The most important risks and uncertainties are described in Item 1A of the company's Form 10-K for the fiscal year ended January 29, 2011.

About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,763 stores across the United States and at Target.com. The company plans to open its first stores in Canada in 2013. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target’s commitment to corporate responsibility, visit Target.com/hereforgood.

For more information, visit Target.com/Pressroom.

Source: Target Corporation

Target Corporation
Susan Kahn, Investors, 612-761-6735
or
Jenna Reck, Financial Media, 612-761-5829
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Target Media Hotline, 612-696-3400