Target Reports September Sales Results
MINNEAPOLIS, Oct 07, 2010 (BUSINESS WIRE) -- Target Corporation (NYSE:TGT) today reported that its net retail sales for the five weeks ended October 2, 2010 were $5,562 million, an increase of 3.1 percent from $5,392 million for the five weeks ended October 3, 2009. On this same basis, September comparable-store sales increased 1.3 percent.
"September sales were near the low end of our expectations," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "We're pleased with results in our back-to-school and back-to-college categories, and we continue to see strong performance in grocery, beauty and healthcare. In October, we expect to build on our strong guest traffic trends with the launch of our exciting new REDcard Rewards program, offering guests the opportunity to save 5% when they use a Target Credit Card, Target Visa or Target Debit Card. Also in October we will finish our ambitious 2010 remodel program, allowing Target to enter the fourth quarter with no stores under construction and the PFresh layout in 462 stores. We believe these strategic sales-driving initiatives will help Target to continue delighting our guests while gaining market share profitably in the upcoming holiday season."
|
Sales |
Total Sales |
Comparable Stores % Change | ||||||
|
(millions) |
% Change |
This Year |
Last Year | |||||
| September | $5,562 | 3.1 | 1.3 | (1.7) | ||||
| Quarter-to-date | $10,585 | 3.3 | 1.6 | (2.3) | ||||
| Year-to-date | $40,868 | 4.3 | 2.1 | (4.3) | ||||
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, November 4, 2010. These recordings may be accessed by calling 612-761-6500.
About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,752 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
Target Corporation
John Hulbert, Investors, 612-761-6627
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Target Media Hotline, 612-696-3400