Target Sept. sales rise, opens 61 new stores

MINNEAPOLIS Target today reported that net retail sales for September increased 6.2% to $5.2 billion from $4.9 billion last year. On this same basis, comparable-store sales increased 1.2%.

"Our comparable-store sales growth in September was below our planned range, particularly in apparel," said Bob Ulrich, chairman and ceo of Target. "As a result, we now believe that our full year EPS will be below $3.60."

The company’s prior guidance called for full year earnings per share to be slightly more or slightly less than $3.60.

The company today also announced the opening of 61 new Target stores bringing the company total to 1,591 stores in 47 states.