Target Corp. April Comps Increase 1.3%

Target Corporation reported that its net retail sales from continuing operations (principally Target Stores) for the four weeks ended April 30, 2005 increased 7.7% to $3.390 billion from $3.148 billion for the four-week period ended May 1, 2004. On this same basis, comparable-store sales increased 1.3% from fiscal April 2004.

The sales plan for the month was a comparable-store increase in the range of 2 to 4 percent, reflecting the impact of this year's earlier Easter holiday.

“Our sales performance in the month of April was slightly below plan, while sales for the quarter overall remained stronger than expected,” said Bob Ulrich, chairman and chief executive officer of Target Corporation. “These sales results, combined with continued gross margin rate expansion, reinforce our belief that Target will deliver very strong profit growth in the first quarter of 2005.”

                                          Total
                             Sales        Sales   Comparable Stores % Change
   Continuing Operations   (millions)   % Change   This Year   Last Year
   April                     $3,390        7.7        1.3         6.2

   First Quarter            $11,174       12.8        6.2         7.3