MINNEAPOLIS, April 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Target Corporation
(NYSE: TGT) today reported that its net retail sales from continuing
operations (principally Target Stores) for the five weeks ended April 2, 2005
increased 14.3 percent to $4.408 billion from $3.855 billion for the five-week
period ended April 3, 2004. On this same basis, comparable-store sales
increased 8.2 percent from fiscal March 2004.
"We are pleased with our March sales results, which were at the upper end
of our planned range for the month," said Bob Ulrich, chairman and chief
executive officer of Target Corporation. "While we believe these results
should be considered in the context of this year's earlier Easter holiday, our
better-than-expected sales performance in February and March gives us
confidence that we will meet or exceed our first quarter profit plan."
Sales Total Sales Comparable Stores % Change
Continuing Operations (millions) % Change This Year Last Year
March $4,408 14.3 8.2 7.8
Year-to-date $7,784 15.1 8.5 7.9
Forward-looking statements in this release should be read in conjunction
with the cautionary statements in Exhibit (99)C to the company's 2003 Form
Target Corporation operates Target Stores, a chain of large, general
merchandise discount stores consisting of 1,330 locations in 47 states, as
well as an on-line business called Target.com.
Comments regarding the company's sales results are available in a pre-
recorded telephone message that may be accessed by calling +1-612-761-6500.
Target Corporation news releases are available at http://www.target.com or
SOURCE Target Corporation
Investors, Susan Kahn, +1-612-761-6735, or Financial Media, Cathy Wright,
+1-847-615-1538, both of Target Corporation