Target Reports January Sales Results

Published on Thursday, 02 February 2012 08:05 Written by TradersHuddle Staff

MINNEAPOLIS-( Business Wire )-

Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended January 28, 2012 were $4,608 million, an increase of 5.1 percent from $4,383 million for the four weeks ended January 29, 2011. On this same basis, January comparable-store sales increased 4.3 percent.

“January sales were near the high end of our expected low to mid single-digit range, reflecting strong performance in both discretionary and non-discretionary categories," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "Sales trends were healthy throughout the month and across the country. These results reflect our commitment to delivering a superior experience and providing compelling everyday value on a unique assortment designed to satisfy our guests’ wants and needs.”

			Sales		Total Sales		Comparable Stores % Change
			(millions)		% Change		This Year		Last Year
January			$4,608		5.1		4.3		1.7
Quarter-to-date			$20,937		3.3		2.2		2.4
Year-to-date			$68,466		4.1		3.0		2.1

Miscellaneous

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, March 1, 2012. These recordings may be accessed by calling 866-526-7639. Text versions of our recordings are available on our Investor Relations website, 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 1,763 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.

Target CorporationJohn Hulbert, Investors, 612-761-6627orJenna Reck, Financial Media, 612-761-5829orTarget Media Hotline, 612-696-3400