MINNEAPOLIS, Mar 03, 2011 (BUSINESS WIRE) -- Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended February 26, 2011 were $4,750 million, an increase of 2.4 percent from $4,637 million for the four weeks ended February 27, 2010. On this same basis, February comparable-store sales increased 1.8 percent.

"Target's February comparable-store sales were in line with our expectations, as our REDcard Rewards and PFresh remodel programs continue to drive meaningful incremental sales and traffic in our stores," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "Throughout the organization, we're focused on disciplined execution of our core strategies to drive strong performance in 2011, while we invest in initiatives that will propel Target's growth over the longer term."

As a reminder, the 2011 Easter holiday will be three weeks later than last year, which is expected to cause pre-Easter sales to move from March into April this year. As a result, Target expects a mid to upper single-digit decline in its March comparable-store sales, followed by a mid-teens increase in its April comparable-store sales. These two results would lead to a low single-digit increase in Target's comparable-store sales for the combined March and April 2011 period.

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 7, 2011. These recordings may be accessed by calling 612-761-6500.

The statements on expected sales performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are 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 the Risk Factors sections of the company's Form 10-K for the fiscal year ended January 30, 2010 and the Form 10-Q for the fiscal quarter ended July 31, 2010.

About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,755 stores in 49 states nationwide and at Target.com. 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

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