Target sees strong comp sales in August

MINNEAPOLIS Target today reported that its net retail sales for the four weeks ended Sept. 1 increased 11.6% to $4.7 billion from $4.2 billion for the four-week period ended Aug. 26, 2006. On this same basis, comparable-store sales increased 6.1%.

"Our comparable-store sales growth in August was near the upper end of our planned range," said Bob Ulrich, chairman and ceo of Target.

For the year-to-date period, Target reported sales of $32.5 billion, a 9.5% increase over last year. Comparable-store sales for the year-to-date rose 4.8%.