Target March comps drop 4.4%

MINNEAPOLIS Target reported that its net retail sales for the five weeks ended April 5 increased 1.5% to $5.7 billion from $5.6 billion for the five weeks ended April 7, 2007. On this same basis, March comparable-store sales decreased 4.4%.

“While we expected a low-single digit comparable-store sales decline in March, our actual performance was modestly below our planned range,” said Bob Ulrich, chairman and ceo of Target.