Target Corp reported that retail sales for the four
weeks ended November 3, increased 9.7% to $4,445 million from $4,054
million a year ago. Comparable-store sales increased 4.1 percent.
“Due to strength in the last week of the month which benefited from
year-over-year Halloween timing, our October comparable store sales
were at the high end of the range provided in our mid-month update,”
said Bob Ulrich, chairman and chief executive officer of Target
Corporation. “However, for the second straight month, we experienced
soft sales in our higher margin categories.”
Third quarter sales increased 9% to $14.34 billion with comps ahead 3.4%.
Year-to-date sales climbed 9.1% to $42.13 billion and increased 2.7% on a same-store basis.
