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Target Corporation July Sales Up 10.9 Percent

From: ASAP

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Target Corporation (NYSE: TGT) today reported that its net retail sales for the four weeks ended August 2, 2003 increased 10.9 percent to $3.303 billion from $2.979 billion for the four-week period ended August 3, 2002. Comparable-store sales increased 3.1 percent from fiscal July 2002.

"Sales at Target Corporation were on plan in July, driven by slightly- above-plan sales at Target Stores," said Bob Ulrich, chairman and chief executive officer of Target Corporation.

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 1,519 stores in 47 states. This included 1,191 Target stores, 266 Mervyn's stores and 62 Marshall Field's stores.

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