Target Corporation today reported that its net retail sales
for the four weeks ended November 24, 2012 were $6,183 million, a
decrease of 0.1 percent from $6,191 million for the four weeks ended
November 26, 2011. On this same basis, November comparable-store sales
decreased 1.0 percent.
"November sales were below our expectations, reflecting
weaker-than-planned sales performance in the first two weeks combined
with stronger sales growth across all channels later in the month," said
Gregg Steinhafel, chairman, president and chief executive officer of
Target (NYSE:TGT) Corporation.
"Profitability for the month remained on plan,
reflecting our efforts to balance thoughtful price investments in an
intensely competitive environment with our continued focus on driving
sales. With the upcoming launch of the Target/Neiman Marcus Holiday
Collection, our unique assortment of exclusive, affordable merchandise
and the compelling benefits of 5% REDcard Rewards and our Holiday Price
Match, we believe Target has the right plans in place to allow our
guests to shop with confidence throughout the holiday season."
Sales Total Sales Comparable Stores % Change
(millions) % Change This Year Last Year
November $6,183 (0.1) (1.0) 1.8
Year-to-date $55,773 3.8 3.2 3.2
