Target Corporation reported that its net retail sales for the four weeks ended November 1, 2008 decreased 0.7% to $4.42 billion from $4.45 billion for the four weeks ended Nov. 3, 2007.
On this same basis, October comparable store sales declined 4.8%.
“Sales for the month of October were very disappointing, with continued volatility in daily results,” said Gregg Steinhafel, president and chief executive officer of Target Corporation. “We expect the recent challenging sales environment to continue into the holiday season and beyond as a result of the economic factors currently affecting consumer spending.”
