UPDATE: Target (TGT) Same-Store Sales Up 1.1% in April

May 3, 2012 8:00 AM EDT
(Updated - May 3, 2012 8:17 AM EDT)

Target (NYSE: TGT) comps up 1.1% in April. Total sales were up 2.1 percent to $4.978 billion.

Q1 same-store sales were up 5.3% to $16.537 billion. The Street was looking for quarterly sales of $16.82 billion.

Chairman, President and CEO Gregg Steinhafel said, "We’re very pleased with Target’s strongest quarterly comparable-store sales performance in more than 6 years, which, as we’ve previously indicated, received an early-season boost from the combination of warm weather and an earlier Easter. Target’s underlying sales trend remains quite healthy, as guests respond to a unique combination of fashion and great prices, combined with the convenience and value created by our remodel program and 5% REDcard Rewards."

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