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April sales of Target slide down

27
Apr '07
Target Corporation, the Minneapolis based second largest discount retailer in US, on April 23, announced that its sales in the current month were less than anticipated.

Sources from the company said that it was expected that April sale would drop from 2 to 4 percent at stores opened, a year earlier. But first two weeks sales showed the down trend.

It was anticipated that for March and April together, same store sales of target would rise, to 3 to 4 percent, instead of its previous estimate of 4 to 6 percent. But the company expects that its comparable-store sales for the quarter to rise to 4 percent.

As Easter fell eight days earlier in the month than last year, several other retailers are also experiencing the same kind of sales result.

Wal-Mart, another retail giant, also predicted that April same-store sales would be flat or fall 2 percent.


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