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Target  April 2003 Sales

From: ASAP


Target Corporation today reported that its net retail sales for the four weeks ended May 3, 2003 increased 11.3 percent to $3.191 billion from $2.866 billion for the four-week period ended May 4, 2002. Comparable-store sales increased 3.9 percent from fiscal April 2002.

"Sales at Target Stores were on plan for the month of April, while sales at Mervyn's and Marshall Field's were below our expectations in the month," 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 1,494 stores in 47 states. This included 1,167 Target stores, 265 Mervyn's stores and 62 Marshall Field's stores.

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