Target April sales miss estimate

Target
Minneapolis-based mega-retailer Target reported that its April sales were below its original expectations.
Nikki Tundel

Target says April sales at stores open at least a year rose 3.1 percent, which was below what the retailer had been expecting.

Consumers shopped for necessities such as food and skipped items with higher profit margins such as jewelry.

Target says sales began to improve toward the end of the month. But it says markets under housing-related stress are still weak, especially Florida, Arizona, Nevada and parts of California.

Target expects May same-store sales to move between a 1 percent loss and a 1 percent gain.

Political Coverage Powered by You

Your gift today creates a more connected Minnesota. MPR News is your trusted resource for election coverage, reporting and breaking news. With your support, MPR News brings accessible, courageous journalism and authentic conversation to everyone - free of paywalls and barriers. Your gift makes a difference.