Target September Sales +2.6%, Will Cease Monthly Reports
[Thursday, October 04, 2012] Target Corporation today reported that its net retail sales for the five weeks ended September 29, 2012 were $6,075 million, an increase of 2.6 percent from $5,923 million for the five weeks ended October 1, 2011. On this same basis, September comparable-store sales increased 2.1 percent.
The company also announced today that beginning with its 2013 fiscal year it will no longer report monthly sales. “This decision is based on discussions with many of our investors and is consistent with the practice of the vast majority of our retail peers,” said John Mulligan, executive vice president and chief financial officer of Target Corporation. “We believe aligning our sales guidance and reporting with disclosure of our quarterly financial results will create a longer-term focus and provide greater understanding of our sales results in the context of our overall financial performance.”
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