Target (TGT) Reports January Sales Up 37.3%
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Target Corporation (NYSE: TGT) reported net retail sales for the five weeks ended February 3, 2007 increased 37.3% to $4.896 billion from $3.566 billion for the four-week period ended January 28, 2006.
For the fiscal year 2006 (comprised of 53 weeks), comparable-store sales increased 31.9% from the prior fiscal year (comprised of 52 weeks).
Management believes that comparing periods of equal lengths, such as the four weeks ended January 27, 2007 compared to the four weeks ended January 28, 2006, is a more useful measure of the company's underlying business trends. On this basis, comparable-store sales increased 5.1%.
For the fiscal year 2006 (comprised of 53 weeks), comparable-store sales increased 31.9% from the prior fiscal year (comprised of 52 weeks).
Management believes that comparing periods of equal lengths, such as the four weeks ended January 27, 2007 compared to the four weeks ended January 28, 2006, is a more useful measure of the company's underlying business trends. On this basis, comparable-store sales increased 5.1%.
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