Target Corporation net retail sales for the four weeks ended July 29, 2006 increased 9.6% to $3.937 billion from $3.593 billion for the four-week period ended July 30, 2005. On this same basis, comparable-store sales increased 3.1% from fiscal July 2005.
“We met our sales plan in the second quarter despite experiencing slower sales growth in July than we had enjoyed in May or June,” said Bob Ulrich, chairman and chief executive officer of Target Corporation. “We remain confident that our second quarter earnings per share will meet or exceed the current First Call median estimate of 69 cents.” Last year Target Corporation earned 61 cents per share in the second quarter.
Comparable Stores % Change
Sales Total Sales --------------------------
(millions) % Change This Year Last Year
---------- ----------- --------- ---------
July $3,937 9.6 3.1 5.5
Second Quarter $12,959 11.1 4.6 6.7
Year-to-Date $25,453 11.4 4.9 6.5
