Target April sales miss estimate
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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.
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