Associated Press, Published August 05 2010
Target July revenue figure rises 2 percent
MINNEAPOLIS — Target says an increase in customers and higher food sales helped July revenue in stores open at least a year rise 2 percent.
But the discount retailer's results fell just short of analyst expectations of a 2.3 percent increase.
Total revenue for the four weeks ended Aug. 1 rose 4 percent to $4.59 billion.
Strong food, household and beauty product sales were offset by weak electronics, video games, music and movie sales.
Revenue at stores open at least a year is a key indicator of a retailer's performance because it excludes growth at stores that open or close during the year.
The company expects August revenue in stores open at least a year to rise in the mid-single digits.
Copyright 2010 The Associated Press.