Easter’s shift from March to April left Target‘s basket looking a little empty last month.
Same-store sales were down 6.3 percent during the five weeks ending April 5, Target reported this morning.
CEO Gregg Steinhafel said the decline “reflected the adverse impact of the move of pre-Easter holiday shopping days from March last year into April this year.”
Steinhafel said shoppers remain cautious, but the retailer has begun to see encouraging signs. It expects April sales to be about the same as last year.