MINNEAPOLIS, Oct. 9 /PRNewswire-FirstCall/ -- Target Corporation
(NYSE: TGT) today reported that its net retail sales for the five weeks ended
October 4, 2003 increased 12.3 percent to $3.937 billion from $3.507 billion
for the five-week period ended October 5, 2002. Comparable-store sales
increased 5.4 percent from fiscal September 2002.
"Sales at Target Corporation were above plan in September, driven by
above-plan sales performance at both Target Stores and Marshall Fields,
somewhat offset by below-plan sales results at Mervyn's," said Bob Ulrich,
chairman and chief executive officer of Target Corporation.
Sales Total SalesComparable Stores % Change
(millions) % Change This Year Last Year
September
Target $3,362 14.8 7.2 0.4
Mervyn's 266 (9.3) (10.0) (3.5)
Marshall Field's 235 1.1 2.4 (10.1)
Other 74 36.5 na na
Total 3,937 12.3 5.4 (0.8)
Year-to-date
Target $24,220 11.3 3.4 4.2
Mervyn's 2,101 (7.7) (8.1) (3.2)
Marshall Field's 1,495 (4.2) (3.2) (3.7)
Other 378 40.2 na na
Total 28,194 9.0 1.9 2.8
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 1,517 stores in 47 states.
This included 1,189 Target stores, 266 Mervyn's stores and 62 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 www.target.com or
www.prnewswire.com .
SOURCE Target Corporation
-0- 10/09/2003
/CONTACT: investors, Susan Kahn, +1-612-761-6735, or financial media,
Cathy Wright, +1-312-781-2979, both of Target Corporation/
/Web site: http://www.target.com /
(TGT)
