Target Corporation reported that its net retail sales for the five weeks ended April 5, 2008 increased 1.5 percent to $5,676 million from $5,592 million for the five weeks ended April 7, 2007. On this same basis, March comparable store sales decreased 4.4 percent.
"While we expected a low-single digit comparable store sales decline in March, our actual performance was modestly below our planned range," said Bob Ulrich, chairman and chief executive officer of Target Corporation. As a reminder, the timing of Easter this year compared with a year ago adversely affected March and will benefit April.
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.
Target Corporation's operations include large, general merchandise and food discount stores and a fully integrated online business through which it offers a fun and convenient shopping experience with thousands of highly differentiated and affordably priced items.
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