Target Corporation Reports September Sales Results

http://www.businesswire.com/news/home/20091008005098/en

MINNEAPOLIS--(Business Wire)--
Target Corporation (NYSE:TGT) today reported that its net retail sales for the
five weeks ended October 3, 2009 were $5,392 million, an increase of 1.3 percent
from $5,320 million for the five weeks ended October 4, 2008. On this same
basis, September comparable-store sales decreased 1.7 percent.

"Sales for the month of September exceeded our expectations as the trend in our
comparable transactions continued to improve," said Gregg Steinhafel, chairman,
president and chief executive officer of Target Corporation. "As a result of
stronger-than-expected retail segment EBIT margin combined with this improved
sales trend, we expect our third quarter EPS performance to exceed the current
median FirstCall estimate of 43 cents. In addition, we continue to experience
credit card segment results in line with our expectations. While our outlook for
the third quarter has improved, we remain cautious in our expectations for
fourth quarter results in both of our business segments." Earnings per share
figures refer to diluted earnings per share.

Sales Total Sales Comparable Stores % Change
(millions) % Change This Year Last Year
September $5,392 1.3 (1.7 ) (3.0 )

Quarter-to-date $10,248 0.7 (2.3 ) (2.6 )

Year-to-date $39,176 (0.7 ) (4.3 ) (1.1 )

Target`s current sales disclosure practice includes a sales recording on the day
of the monthly sales release. Consistent with this practice, a new message was
recorded earlier today. The next sales recording is expected to be issued on
Thursday, November 5, 2009. These recordings may be accessed by calling
612-761-6500.

Target Corporation's retail segment includes large general merchandise and food
discount stores and Target.com, a fully integrated on-line business. In
addition, the company operates a credit card segment that offers branded
proprietary and Visa credit card products. The company currently operates 1,743
Target stores in 49 states.

The statement on expected earnings per share is a forward-looking statement
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements speak only as of the date they are made and are subject to risks and
uncertainties which could cause the company's actual results to differ
materially. The most important risks and uncertainties are described in Item 1A
of the company's Form 10-K for the fiscal year ended January 31, 2009.

Target Corporation news releases are available at www.target.com.

Target Corporation
Investors:
John Hulbert, 612-761-6627
or
Financial Media:
Eric Hausman, 612-761-2054

Copyright Business Wire 2009