MINNEAPOLIS, Mar 7, 2002 /PRNewswire-FirstCall via COMTEX/ -- Target
Corporation (NYSE: TGT) today reported that its net retail sales for the four
weeks ended March 2, 2002 increased 16.7 percent to $2.753 billion from $2.359
billion for the four-week period ended March 3, 2001. Comparable-store sales
increased 8.5 percent from fiscal February 2001.
"Sales for the corporation were well above plan in February, primarily due to
exceptional strength at Target Stores," said Bob Ulrich, chairman and chief
executive officer of Target Corporation. "The momentum we enjoyed in the fourth
quarter of 2001 has clearly continued into February."
Sales Total Sales Comparable Stores
(millions) % Change % Change
Target $2,306 19.6 10.0
Mervyn's 241 2.7 2.5
Marshall Field's 176 0.0 0.0
Other 30 45.5 na
Total 2,753 16.7 8.5
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 1,381 stores in 47 states. This included 1,053
Target stores, 264 Mervyn's stores and 64 Marshall Field's stores.
Forward-looking statements in this release should be read in conjunction with
the cautionary statements in Exhibit (99)C to the company's 2000 Form 10-K.
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 http://www.target.com or
SOURCE Target Corporation
Susan Kahn, investors, +1-612-761-6735,
financial media, +1-612-761-6627,
both for Target Corporation
Copyright (C) 2002 PR Newswire. All rights reserved.