Retail News Breaks Archives
Target sees April comp-store sales surge
May 5th, 2011
MINNEAPOLIS – Target Corp. was among the retailers reaping the benefit of Easter falling 20 days later than it did in 2010.
The discount store chain said Thursday that same-store sales for April jumped 13.1%. That compared with a 5.9% year-over-year decrease for the month a year earlier.
For March and April combined, eliminating the impact of the Easter calendar shift, Target's comparable-store sales rose only 2.1%. Last year, the gain for the two months was 3%.
"April comparable-store sales were somewhat below our expectations, as guests continued to be very cautious in their spending leading up to Easter," Target chairman, president and chief executive officer Gregg Steinhafel said in a statement.
"Target remains focused on delivering an outstanding shopping experience, providing unbeatable value on high-quality, well-designed items throughout our assortment," Steinhafel added. "This is more important than ever for our guests as they face increasing pressure on their household budgets due to higher energy costs and increasing prices of food, apparel and home merchandise."
Target also reported that through April its year-to-dale comp-store sales are up 2%.