DAYTON HUDSON OCTOBER SALES UP 12.0 PERCENT
DAYTON HUDSON OCTOBER SALES UP 12.0 PERCENT MINNEAPOLIS, Nov. 7 /PRNewswire/ -- Dayton Hudson Corporation
(NYSE: DH) today reported that its net retail sales for the four weeks ended Nov. 2, 1991 increased 12.0 percent to $1.27 billion from $1.13 billion a year ago.
Comparable-store sales were up 6.0 percent from the same period a year ago. Stephen E. Watson, Dayton Hudson president said, "Consumers continue to be very price conscious, responding more than ever to strong value offerings. The promotional environment continues to place pressure on gross margins in all our companies and will significantly affect third quarter earnings." October sales by business segment for the four weeks were as follows: -- Target's total sales increased 19 percent while comparable-store sales were up 9 percent, reflecting Target's chainwide aggressive value pricing strategy. -- Mervyn's total sales increased 1 percent and comparable-store sales were down 2 percent, reflecting the fact that almost 60 percent of Mervyn's sales are in California. -- The Department Store Division's total sales were up 10 percent and comparable-store sales were up 9 percent. Sales for the 39 weeks ended Nov. 2, 1991 were $10.68 billion, up 10.0 percent from $9.70 billion in the same period a year ago. Comparable-store sales for the 39-week period were up 2.6 percent. During the month, Target opened 22 new stores in California, Florida, Illinois, Indiana, Michigan, Minnesota, Nevada, Ohio, Tennessee and Texas. Of the 22, six were Target Greatland super stores. Also during October, Mervyn's opened nine new stores in California, Florida and Washington. As of Nov. 2, 1991, Dayton Hudson operated 765 stores in 33 states. -0- 11/6/91 /CONTACT: (Media) Ann Barkelew, 612-370-6600, or (Investor) Jim Eckmann, 612-370-5529, both of Dayton Hudson Corporation/ (DH) CO: Dayton Hudson Corporation ST: Minnesota IN: REA SU: ECO JS -- MN001 -- 2071 11/07/91 09:20 EST
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|Date:||Nov 7, 1991|
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