Sporting goods sales suffer at Target
US-based discount retailer Target Corporation reported higher net sales for the four weeks ended October 31. Sales for the period totalled $4.5 million, up 2.8% compared with $4.4 million for the four weeks ended November 1, 2008.
Apparel sales were higher, as were shoe, jewellery and accessory sales. However, sporting goods, home and electronics sales fell significantly.
"Sales for the month of October were slightly better than our expectation," said
Gregg Steinhafel, chairman, president and chief executive officer. "Consistent with September results, October comparable store transactions were positive, and comparable store sales in apparel were slightly stronger than for the company overall. We are entering the holiday season with very clean inventories and we believe we are positioned to perform well in what continues to be a challenging economic environment."
