Target Corporation Reports August Sales Results

Published on Thursday, 02 September 2010 08:03 Written by TradersHuddle Staff

MINNEAPOLIS-( Business Wire )-

Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended August 28, 2010 were $5,023 million, an increase of 3.4 percent from $4,856 million for the four weeks ended August 29, 2009. On this same basis, August comparable-store sales increased 1.8 percent.

“August sales were in line with expectations,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “We’re pleased with our strong performance in back-to-school and back-to-college categories, as well as our performance in apparel and food. Guest traffic trends remained healthy throughout the month. These results demonstrate the resilience of our strategy and our ability to deliver on both sides of our ‘Expect More. Pay Less.’ brand promise.”

					Sales					Total Sales				Comparable Stores % Change
					(millions)					% Change				This Year				Last Year
August					$	5,023				3.4				1.8				(2.9	)
Year-to-date					$	35,307				4.5				2.2				(4.7	)

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 7, 2010. 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 credit card products. The company currently operates 1,743 Target stores in 49 states.

Target Corporation news releases are available at www.target.com.

Target CorporationJohn Hulbert (Investors)612-761-6627orEric Hausman (Financial Media)612-761-2054