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(AP) - Target Corp. says its April sales
were coming in "much weaker" than expected, a sign that a month forecast to be tough for retailers may turn out worse than anticipated.

      Target shares fell $1.91, or 3.1 percent, to $59.52 in extended
trading after the announcement. The shares fell 69 cents, or 1.1
percent, during regular trading on the New York Stock Exchange.

      The nation's second-largest discount retailer said it had
previously expected April sales to drop 2 percent to 4 percent at
stores open at least a year. 

But results for April will be "much
weaker than our initial plan" based on results from the first two
weeks of the month combined with its outlook for the final two
weeks, the company said.

      For March and April together, Target said those so-called
comparable store sales -- a key retail barometer -- would rise 3
percent to 4 percent, instead of its previous estimate of 4 percent
to 6 percent.

      The company said it expects comparable-store sales for the
quarter to rise 4 percent.

      "We remain comfortable that our first quarter earnings per
share growth will be consistent with our previous guidance for the
full year," the company said.

      Several retailers expected a tough April because Easter fell
eight days earlier in the month than last year, pushing more sales
of Easter-related goods into March. 

Wal-Mart Stores Inc. had
predicted that April same-store sales would be flat or fall 2
percent. Wal-Mart had not offered an April sales update as of
Monday.

      While Easter's impact was expected, erratic weather might have
been a surprise -- April started out cold and rainy in much of the
country and may have kept shoppers indoors.

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Business and Economic News

Target Corp. says its April sales
were coming in "much weaker" than expected, a sign that a month already forecast to be tough for retailers may turn out worse than anticipated.


Target says April sales to be 'much weaker' than planned

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