Target Corporation Reports August Sales Results
MINNEAPOLIS-(Business Wire)-September 3, 2009 - Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended August 29, 2009 were $4,856 million, an increase of 0.1 percent from $4,852 million for the four weeks ended August 30, 2008. On this same basis, August comparable-store sales decreased 2.9 percent.
“Sales for the month of August were above expectations,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “Guest traffic in August was essentially flat to last year, marking a meaningful improvement from second quarter trends. We’re pleased with these results, which we believe reflect the resilience of both our guests and our strategy in a challenging environment.”
| Sales | Total Sales | Comparable Stores % Change | ||||||||||||||||||||||
| (millions) | % Change | This Year | Last Year | |||||||||||||||||||||
| August | $ | 4,856 | 0.1 | (2.9 | ) | (2.1 | ) | |||||||||||||||||
| Year-to-date | $ | 33,784 | (1.0 | ) | (4.7 | ) | (0.8 | ) | ||||||||||||||||
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, October 8, 2009. These recordings may be accessed by calling 612-761-6500.
Target Corporation's retail segment includes large general merchandise and food discount stores and Target.com, a fully integrated on-line business. In addition, the company operates a credit card segment that offers branded proprietary and Visa credit card products. The company currently operates 1,719 Target stores in 49 states.
Target Corporation news releases are available at www.target.com.
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