Target Corporation September Mid-Month Sales Release Transcript

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Target Corporation (TGT)
September Mid-Month Sales Release Call
September 24, 2007 4:30 pm ET

Presentation

Unidentified Corporate Participant

Thank you for calling the Target Corporation sales information line. The comments on this recording were updated as of Monday, September 24 for the week ended Saturday September 22, 2007. These comments summarize our sales results and outlook at Target stores for the five-week period extending from Sunday, September 2 through Saturday October 6, 2007.

Based on actual sales at Target stores for the first three weeks of September, combined with our outlook for the remaining two weeks of the month, we now expect Target's comparable store sales to increase in the range of 1.5% to 2.5%. This outlook is primarily attributable to weaker guest traffic in September versus our year-to-date trend.

Sales results in Florida and the Northeast are somewhat weaker than the rest of the country. We plan to report actual sales for the month of September on Thursday, October 11, 2007.

Forward-looking statements in this recording should be read in conjunction with the cautionary statement in Exhibit 99a to the company's 2006 Form 10-K.

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