Target Corporation (NYSE:TGT) today reported that its net retail sales
for the four weeks ended May 30, 2009 were $4,458 million, a decrease of
2.3 percent from $4,564 million for the four weeks ended May 31, 2008.
On this same basis, May comparable-store sales decreased 6.1 percent.
“Sales for the month of May were somewhat below our expectations,” said
Gregg Steinhafel, chairman, president and chief executive officer of
Target Corporation.
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Sales
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Total Sales
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Comparable Stores % Change
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(millions)
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% Change
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This Year
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Last Year
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May
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$
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4,458
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(2.3)
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(6.1)
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(0.7)
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Year-to-date
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$
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18,819
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(0.2)
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(4.2)
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(0.7)
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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, July 9, 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 1,698 Target stores in 49 states.
Target Corporation news releases are available at www.target.com.
Target Corporation
John Hulbert, 612-761-6627
or
Financial
Media:
Eric Hausman, 612-761-2054
