Target Reports Strong First-Quarter Sales

Target Corporation (NYSE:TGT) today reported that its first quarter 2012 comparable-store sales increased 5.3 percent compared with first quarter 2011.

“We’re very pleased with Target’s strongest quarterly comparable-store sales performance in more than 6 years, which, as we’ve previously indicated, received an early-season boost from the combination of warm weather and an earlier Easter," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "Target’s underlying sales trend remains quite healthy, as guests respond to a unique combination of fashion and great prices, combined with the convenience and value created by our remodel program and 5% REDcard Rewards.”

Target’s net retail sales for the four weeks ended April 28, 2012 were $4,978 million, an increase of 2.1 percent from $4,874 million for the four weeks ended April 30, 2011. On this same basis, April comparable-store sales increased 1.1 percent.
             
Sales Total Sales

Comparable Stores % Change

(millions)

% Change

This Year
   

Last Year
April 4,978 2.1 1.1 13.1
Year-to-date 16,537 6.1 5.3 2.0
 

MiscellaneousTarget’s current sales disclosure practice includes a sales recording on the day of the monthly sales release. Consistent with this practice, a new message was recorded earlier today. The next sales recording is expected to be issued on Thursday, May 31, 2012. These recordings may be accessed by calling 866-526-7639. Text versions of our recordings are available on our Investor Relations website, www.target.com/investors, by clicking on “Financial News” and then “Monthly Sales Summaries.”

About TargetMinneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,764 stores across the United States and at Target.com. The company plans to open its first stores in Canada in 2013. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target’s commitment to corporate responsibility, visit Target.com/hereforgood.

For more information, visit Target.com/Pressroom.

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