Comps Gain As Target Rolls Through July
Thursday August 2nd, 2012 - 12:35PM
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Target Corp. today announced that its July comparable store sales increased 3.1%. Net retail sales for the four weeks ended July 28 were $5 billion, an increase of 3.2% from the four weeks ended July 30, 2011.
In a conference call, Target noted that July comparable-store sales were strongest in Food, which enjoyed a low double-digit comp store sales increase, and in Health & Beauty, which experienced a mid single-digit gain. July comps in Apparel increased slightly, but both Home and Hardlines suffered a low single-digit decline in the month.
“Our second quarter comparable-store sales increase of 3.1% was right in line with our expectation going into the quarter,” said Gregg Steinhafel, Target chairman, president and CEO. “Guests continue to respond to our innovative merchandising, remodel program and 5% REDcard Rewards, driving healthy increases in traffic and sales in a consumer environment that remains quite challenging.”
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials
After decades of following consumers to the suburbs, retailers are plotting to get ahead of a growing segment of the population’s return to the cities.