Target Corp.’s November Comps Rise 5.5%

Target Corporation reported that its net retail sales for the four weeks ended Nov. 27, 2010 were $6.01 billion, an increase of 5.7% from $5.69 billion for the four weeks ended Nov. 28, 2009. On this same basis, November comparable-store sales increased 5.5%.

“November sales were better than expected, driven by very strong guest traffic throughout the month,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “Guests are responding to our compelling holiday merchandising and marketing programs, and they love our new 5% REDcard Rewards program. We’re well-prepared for the biggest month of the year, and believe we’re on track to achieve fourth quarter sales and profitability consistent with our guidance on November 17.”