Target Corp. reported March comparable-store sales declined 6.3%. Total sales for the five weeks ended April 4 were $5.54 billion, down 2.3% from $5,676 million a year ago.
“March sales were modestly better than our planned range, and reflected the adverse impact of the move of pre-Easter holiday shopping days from March last year into April this year,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “Our guests continue to be cautious, but we have begun to see encouraging signs in the operating results of both of our business segments. In light of the Easter shift and recent trends, we expect our April reported comparable-store sales results to be essentially flat to last year.”
In the year-to-date period, comps were down 5.3%. Total sales were down 1.3% to $9.9 billion.
