MINNEAPOLIS--(BUSINESS WIRE)--Dec. 1, 2011-- Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended November 26, 2011 were $6,191 million, an increase of 3.0 percent from $6,012 million for the four weeks ended November 27, 2010. On this same basis, November comparable-store sales increased 1.8 percent.
"November sales were near the low end of our expectations for the month as we compared against very strong performance last year," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "As we kicked off the holiday season following Thanksgiving, sales were strongest on Black Friday as guests responded to our midnight opening and compelling prices. Our view of December remains the same – we expect a competitive and promotional environment as consumers continue to focus on value. At Target, we’ll provide our guests with great deals and low everyday prices on a unique assortment of items for gift-giving and holiday entertaining. In addition, REDcard holders enjoy an additional 5% savings every day in stores and online, along with free shipping on every order from Target.com."
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales |
|
|
Total Sales |
|
|
Comparable Stores % Change |
|
|
|
|
(millions) |
|
|
% Change |
|
|
This Year |
|
|
Last Year |
| November |
|
|
|
$6,191 |
|
|
3.0 |
|
|
1.8 |
|
|
5.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year-to-date |
|
|
|
$53,720 |
|
|
4.3 |
|
|
3.2 |
|
|
2.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, January 5, 2012. These recordings may be accessed by calling 866-526-7639. Text versions of our recordings are available on our Investor Relations website, http://www.target.com/investors, by clicking on “Financial News” and then “Monthly Sales Summaries.”
About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,767 stores across the United States and at Target.com. The company plans to open its first stores in Canada in 2013. 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
Target Corporation
John Hulbert
Investors
612-761-6627
or
Jenna Reck
Financial Media
612-761-5829
or
Target Media Hotline
612-696-3400
