MINNEAPOLIS--(BUSINESS WIRE)--April 6, 2006--Target Corporation
(NYSE:TGT) today reported that its net retail sales for the five weeks
ended April 1, 2006 increased 8.6 percent to $4.789 billion from
$4.408 billion for the five-week period ended April 2, 2005. On this
same basis, comparable-store sales increased 2.2 percent from fiscal
March 2005.
"Target's comparable store sales for the month of March were in
line with our expectations, reflecting the effect of this year's later
Easter holiday," said Bob Ulrich, chairman and chief executive officer
of Target Corporation. "We expect this later Easter timing to
significantly benefit our reported April sales results."
Comparable Stores % Change
Sales Total Sales --------------------------
(millions) % Change This Year Last Year
-------------- --------------- --------- ---------
March $4,789 8.6 2.2 8.2
Year-to-Date $8,520 9.5 2.8 8.5
As a reminder, our current sales disclosure practice includes a
sales recording on the day of our monthly sales release and one
mid-month sales update. Consistent with this practice, a new message
was recorded earlier today and our next sales recording is planned for
Monday, April 17, 2006. These recordings may be accessed by calling
612-761-6500.
Target Corporation operates Target Stores, a chain of large,
general merchandise discount stores consisting of 1,418 locations in
47 states, as well as an on-line business called Target.com.
Forward-looking statements in this release should be read in
conjunction with the cautionary statements in Exhibit (99)C to the
company's Third Quarter 2005 Form 10-Q. Target Corporation news
releases are available at www.target.com.
CONTACT: Target Corporation, Minneapolis
Investor:
Susan Kahn, 612-761-6735
or
Financial Media:
Cathy Wright, 847-615-1538
SOURCE: Target Corporation
