Target October Comps Up 1.6%

Target Corporation net retail sales for the four weeks ended November 1, 2003 increased 7.9% to $3.374 billion from $3.126 billion for the four-week period ended November 2, 2002. Comparable-store sales increased 1.6 % from fiscal October 2002.

“Sales at Target Corporation were below plan in October, reflecting exceptionally weak sales at both Mervyn's and Marshall Field's,” said Bob Ulrich, chairman and chief executive officer of Target Corporation. “Sales at Target Stores were on plan for the month.”

                         Sales      Total Sales   Comparable Stores   % Change
                       (millions)    % Change         This Year     Last Year
    October
    Target              $2,885          10.7              4.5           2.1
    Mervyn's               229         (13.9)           (15.1)         (5.7)
    Marshall Field's       204         (11.7)           (10.5)          5.0
    Other                   56         144.9               na            na
    Total                3,374           7.9              1.6           1.5

    Third Quarter
    Target              $9,363          13.9              6.7           1.0
    Mervyn's               787         (10.3)           (11.1)         (3.8)
    Marshall Field's       604          (6.2)            (4.9)         (3.2)
    Other                  189          55.6               na            na
    Total              $10,943          10.9              4.3           0.1

    Year-to-date
    Target             $27,105          11.2              3.5           4.0
    Mervyn's             2,330          (8.3)            (8.8)         (3.5)
    Marshall Field's     1,699          (5.2)            (4.1)         (2.6)
    Other                  434          48.4               na            na
    Total               31,568           8.9              1.9           2.7