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Target Corporation October sales down 0.7%

10
Nov '08
Target Corporation reported that its net retail sales for the four weeks ended November 1, 2008 decreased 0.7 percent to $4,415 million from $4,445 million for the four weeks ended November 3, 2007. On this same basis, October comparable store sales declined 4.8 percent.

"Sales for the month of October were very disappointing, with continued volatility in daily results," said Gregg Steinhafel, president and chief executive officer of Target Corporation. "We expect the recent challenging sales environment to continue into the holiday season and beyond as a result of the economic factors currently affecting consumer spending."

Target Corporation's retail segment includes large general merchandise and food discount stores and Target.com, a fully integrated on-line business. In addition, the company operates a credit card segment that offers branded proprietary and Visa credit card products. The company currently operates 1,684 Target stores in 48 states.


Target Corporation


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