Target Corporation June Sales Up 7.9 Percent Jul 10, 2003

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Target Corporation today reported that its net retail sales for the 5 weeks ended July 5, 2003 increased 7.9 percent to $4.135 billion from U.S. $3.8 billion for the 5-week period ended July 6, 2002. Comparable-store sales increased 0.8 percent from fiscal June 2002.

"Sales in June were on plan at both Target Stores and Marshall Field's and well below plan at Mervyn's," said Bob Ulrich, chairman and CEO of Target Corporation. "Given the significance of this month's contribution to our second quarter earnings performance, we now expect our most likely EPS outcome in the quarter to be $0.39 or $0.40."

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