Nonprofit, nonpartisan journalism. Supported by readers.

Donate
Topics

Target shoppers coming back but spending less

Target issued its August sales results to shareholders today. CEO Gregg Steinhafel said guest traffic was essentially flat, compared with August 2008 — a meaningful improvement over previous trends.

A trip to Target is working its way back into our routines, but we’re still spending less once we get there.

Target issued its August sales results to shareholders today. CEO Gregg Steinhafel said guest traffic was essentially flat, compared with August 2008 — a meaningful improvement over previous trends.

New stores helped bump net retail sales up to $4.85 billion, a 0.1 percent increase, compared with last August. On a per-store basis, however, Target saw its sales decrease 2.9 percent.

“We’re pleased with these results,” Steinhafel said, “which we believe reflect the resilience of both our guests and our strategy in a challenging environment.”