Target Corporation reported that its net retail sales for the four weeks ended November 3, 2007 increased 9.7 percent to $4,445 million from $4,054 million for the four-week period ended October 28, 2006. On this same basis, comparable-store sales increased 4.1 percent.
"Due to strength in the last week of the month which benefited from year-over-year Halloween timing, our October comparable store sales were at the high end of the range provided in our mid-month update," said Bob Ulrich, chairman and chief executive officer of Target Corporation. "However, for the second straight month, we experienced soft sales in our higher margin categories."
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. Our next sales recording is expected to be issued after the market closes on Monday, November 19, 2007.
marketing@alchempro.com
