Target Corporation reported that its net retail sales for the five weeks ended October 6, 2007 increased 6.2 percent to $5,190 million from $4,885 million for the five-week period ended September 30, 2006. On this same basis, comparable-store sales increased 1.2 percent.
"Our comparable store sales growth in September was below our planned range, particularly in apparel," said Bob Ulrich, chairman and chief executive officer of Target Corporation. "As a result, we now believe that our full year EPS will be below $3.60."
For reference, our prior guidance envisioned roughly equal likelihood of earning slightly more or slightly less than $3.60 for the full year 2007. All EPS estimates refer to diluted earnings per share excluding the impact, if any, from a potential sale of our credit card receivables resulting from the current review announced in September 2007.
As a reminder, our current sales disclosure practice includes a sales recording on the day of our monthly sales release and one mid-month sales update. Consistent with this practice, a new message was recorded earlier today. Our next sales recording is expected to be issued after the market closes on Monday, October 22, 2007.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
