Target Corp. Sees Feb Comps Off 1.4%

Target Corporation reported that its net retail sales for the four weeks ended March 1, 2003 increased 6.4 percent to $2.926 billion from $2.750 billion for the four-week period ended March 2, 2002. Comparable-store sales declined 1.4 percent from fiscal February 2002.

“Sales for the corporation were below plan in February,” said Bob Ulrich, chairman and chief executive officer of Target Corporation.

                      Sales     Total Sales   Comparable Stores   % Change
                   (millions)     % Change        This Year       Last Year
     February
     Target          $2,509          8.8            (0.5)           10.0
     Mervyn's           219         (9.2)           (9.2)            2.5
     Marshall Field's   170         (1.8)           (1.8)            0.0
     Other               28          5.7              na              na
     Total            2,926          6.4            (1.4)            8.5