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Target Corporation October 2003 Sales Up 7.9 Percent

From: ASAP

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Target Corporation reported that its net retail sales for the four weeks ended November 1, 2003 increased 7.9 percent to $3.374 billion from $3.126 billion for the four-week period ended November 2, 2002. Comparable-store sales increased 1.6 percent from fiscal October 2002.

"Sales at Target Corporation were below plan in October, reflecting exceptionally weak sales at both Mervyn's and Marshall Field's," said Bob Ulrich, chairman and chief executive officer of Target Corporation. "Sales at Target Stores were on plan for the month."

Target Corporation operates large-store general merchandise formats, including discount stores, moderate-priced promotional and traditional department stores, as well as a direct mail and on-line business called target.direct. At month-end, the company operated 1,556 stores in 47 states. This included 1,227 Target stores, 267 Mervyn's stores and 62 Marshall Field's stores.

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