Target (TGT) Reports 1.3% Increase in Sept. Same-Store Sales
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Target (NYSE: TGT) reports total sales for the month of September were $5.562 billion, up 3.1% from the same period last year. Same store sales rose 1.3%.
Gregg Steinhafel, Chairman, President and CEO said, "September sales were near the low end of our expectations. We’re pleased with results in our back-to-school and back-to-college categories, and we continue to see strong performance in grocery, beauty and healthcare. In October, we expect to build on our strong guest traffic trends with the launch of our exciting new REDcard Rewards program, offering guests the opportunity to save 5% when they use a Target Credit Card, Target Visa or Target Debit Card. Also in October we will finish our ambitious 2010 remodel program, allowing Target to enter the fourth quarter with no stores under construction and the PFresh layout in 462 stores. We believe these strategic sales-driving initiatives will help Target to continue delighting our guests while gaining market share profitably in the upcoming holiday season."
Gregg Steinhafel, Chairman, President and CEO said, "September sales were near the low end of our expectations. We’re pleased with results in our back-to-school and back-to-college categories, and we continue to see strong performance in grocery, beauty and healthcare. In October, we expect to build on our strong guest traffic trends with the launch of our exciting new REDcard Rewards program, offering guests the opportunity to save 5% when they use a Target Credit Card, Target Visa or Target Debit Card. Also in October we will finish our ambitious 2010 remodel program, allowing Target to enter the fourth quarter with no stores under construction and the PFresh layout in 462 stores. We believe these strategic sales-driving initiatives will help Target to continue delighting our guests while gaining market share profitably in the upcoming holiday season."
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