Target Corp. reported that its net retail sales for the four weeks ended February 2, 2008 increased 5.4 percent compared to the four weeks ended January 27, 2007. On this same equal-week basis, January comparable store sales decreased 1.1 percent. On a fiscal month basis, net retail sales for the four weeks ended February 2, 2008 decreased 16.1% to $4,106 million from $4,896 million for the five-week period ended February 3, 2007.
“Our comparable store sales performance in January was near the lower end of our planned range,“ said Bob Ulrich, chairman and chief executive officer of Target Corporation.
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| Total Sales % Change |
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| Sales |
| Unequal Length |
| Equal Length |
| Comparable | ||||||
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| (millions) |
| Periods |
| Periods |
| This Year |
| Last Year | ||||
January |
| $ | 4,106 |
| (16.1) |
| (a) |
| 5.4 |
| (1.1 | ) |
| 5.1 |
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Fourth Quarter |
| $ | 19,340 |
| 0.4 |
| (b) |
| 5.9 |
| 0.2 |
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| 4.8 |
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Total Year |
| $ | 61,471 |
| 6.2 |
| (c) |
| 8.1 |
| 3.0 |
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| 4.8 |
(a) Four-week fiscal month ended February 2, 2008, compared with the five-week fiscal month ended February 3, 2007.
(b) Fourth quarter 2007 consisting of 13 weeks, compared with 14 weeks in fourth quarter 2006.
(c) Total Year 2007 consisting of 52 weeks, compared with 53 weeks in Total Year 2006.
