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)