Target Key Revenue Figure Rises In May

Target Corp. says a key sales figure rose 4.4 percent in May as shoppers spent more on food and spring clothing.

 

 

 

 

MINNEAPOLIS (AP) - Target Corp. says a key sales figure rose 4.4 percent in May as shoppers spent more on food and spring clothing.

The results beat analysts' expectations tracked by Thomson Reuters I/B/E/S for a 3.5 percent increase in stores open at least a year. They were also at the high end of Target's own expectations.

Total sales for the four weeks ended May 26 rose 5 percent to $5.04 billion.

Food, clothing and health supplies were the strongest sellers.

Year-to-date, total sales rose 6 percent to $21.58 billion and revenue in stores open at least one year rose 5.1 percent.

That metric is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Target expects the June figure to rise in the low- to mid-single digits.

(KFGO file photo)

 

AP

   

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