Minneapolis based largest retailer Target Corporation reported that its net retail sales for the five weeks ended April 1, 2006 increased 8.6 percent to $4.789 billion from $4.408 billion for the five-week period ended April 2, 2005. On this same basis, comparable-store sales increased 2.2 percent from fiscal March 2005.
"Target's comparable store sales for the month of March were in line with our expectations, reflecting the effect of this year's later Easter holiday," said Bob Ulrich, chairman and chief executive officer of Target Corporation. "We expect this later Easter timing to significantly benefit our reported April sales results."
As a reminder, our current sales disclosure practice includes a sales recording on the day of our monthly sales release and one mid-month sales update. Consistent with this practice, a new message was recorded earlier today and our next sales recording is planned for Monday, April 17, 2006. Calling 612-761-6500 may access these recordings.
Target Corporation operates Target Stores, a chain of large, general merchandise discount stores consisting of 1,418 locations in 47 states, as well as an on-line business called Target.com. Forward-looking statements in this release should be read in conjunction with the cautionary statements in Exhibit (99)C to the company's Third Quarter 2005 Form 10-Q.
marketing@alchempro.com
