MINNEAPOLIS, May 9, 2002 /PRNewswire-FirstCall via COMTEX/ -- Target
Corporation (NYSE: TGT) today reported that its net retail sales for the four
weeks ended May 4, 2002 increased 9.1 percent to $2.867 billion from $2.628
billion for the four-week period ended May 5, 2001. Comparable-store sales
increased 0.4 percent from fiscal April 2001.
"Sales for the corporation were essentially on plan in April, reflecting
continued strong sales momentum at Target Stores in the first half of the month,
followed by weaker sales results in the latter two weeks," said Bob Ulrich,
chairman and chief executive officer of Target Corporation.
Target Corporation
Sales Total Sales Comparable Stores
(millions) % Change % Change
April
Target $2,415 11.1 0.8
Mervyn's 255 (4.2) (4.2)
Marshall Field's 177 2.9 2.9
Other 20 22.6 na
Total 2,867 9.1 0.4
Year-to-date
Target $7,847 17.3 6.8
Mervyn's 819 (1.3) (1.4)
Marshall Field's 590 (2.1) (2.1)
Other 78 26.7 na
Total 9,334 14.1 5.2
Target Corporation operates large-store general merchandise formats, including
discount stores, moderate-priced promotional and traditional department stores,
as well as a direct mail and on-line business called target.direct. At
month-end, the company operated 1,409 stores in 47 states. This included 1,081
Target stores, 264 Mervyn's stores and 64 Marshall Field's stores.
Comments regarding the company's sales results are available in a pre-recorded
telephone message that may be accessed by calling 612-761-6500. Target
Corporation news releases are available at http://www.target.com or
http://www.prnewswire.com .
SOURCE Target Corporation
CONTACT:
Investors, Susan Kahn, +1-612-761-6735, or Financial Media,
Cathy Wright, +1-612-761-6627, both of Target Corporation
URL: http://www.target.com
