Target July Comps Fall 6.5%

Target Corporation sales for the four weeks ended August 1, 2009 were $4.42 billion, a decrease of 3.2% from $4.57 billion for the four weeks ended August 2, 2008. On this same basis, July comparable-store sales decreased 6.5%.

“July comparable-store sales performance was in line with our expectation for the month,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “While our sales remain challenging, we continue to experience favorable gross margin performance within categories and disciplined expense control in our retail segment, as well as modestly improving risk trends in our credit card segment.”