Oct. sales disappointing for Target

MINNEAPOLIS Target reported that its net retail sales for the four weeks ended Nov. 1 decreased 0.7% to $4.4 billion from $4.44 billion for the four weeks ended Nov.3, 2007. On this same basis, October comparable-store sales declined 4.8%.

“Sales for the month of October were very disappointing, with continued volatility in daily results,” said Gregg Steinhafel, president and ceo of Target. “We expect the recent challenging sales environment to continue into the holiday season and beyond as a result of the economic factors currently affecting consumer spending.”