Target May sales down

6/4/2009

MINNEAPOLIS Target reported that its net retail sales for the four weeks ended May 30 were $4.5 billion, a decrease of 2.3% from $4.6 billion for the four weeks ended May 31, 2008. On this same basis, May comparable-store sales decreased 6.1%.

“Sales for the month of May were somewhat below our expectations,” said Gregg Steinhafel, chairman, president and chief executive officer of Target.