Target - reflects extra week in current year

09 Feb '07

1 min read

Target Corporation reported that its net retail sales for the five weeks ended February 3, 2007 increased 37.3 percent to $4.896 billion from $3.566 billion for the four-week period ended January 28, 2006.

For the fiscal year 2006 (comprised of 53 weeks), comparable-store sales increased 31.9 percent from the prior fiscal year (comprised of 52 weeks).

Management believes that comparing periods of equal lengths, such as the four weeks ended January 27, 2007 compared to the four weeks ended January 28, 2006, is a more useful measure of the company's underlying business trends. On this basis, comparable-store sales increased 5.1 percent.

"Our January comparable store sales growth was in line with our expectations," said Bob Ulrich, chairman and chief executive officer of Target Corporation.

Target Corporation's operations include large, general merchandise discount stores and a fully integrated on-line business through which we offer a fun and convenient shopping experience with thousands of highly differentiated and affordably priced items.

Target Corporation, USA

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