Target’s June Sales Fall 2.6%9 Jul, 2009 By: Chris Tribbey
Target Corp. saw its net sales for June fall 2.6% to $5.69 billion, the company reported July 9.
June comparable-store sales fell 6.2%
“Sales for the month of June continued to reflect a very challenging economic environment,” said Gregg Steinhafel, chairman, president and CEO of Target. “Consistent with our first quarter experience, however, we continue to mitigate the impact of a substantial portion of this sales shortfall on our profitability through better than expected gross margin rate and continued expense discipline in our retail segment.”