Target Key Revenue Figure Rises 3.1 Percent In July

MINNEAPOLIS (AP) — Discount retailer Target Corp. says a key revenue measure rose 3.1 percent in July, as more shoppers visited its stores.

The increase was greater than Wall Street predicted. Analysts surveyed by Thomson Reuters expected 2.7 percent growth.

Revenue in stores open at least one year is a key gauge of a retailer's health, because it excludes results from stores recently opened or closed.

Total sales for the four weeks ended July 28 rose 3.2 percent to $5 billion.

For the second quarter, revenue at stores open at least a year rose 3.1 percent, while total sales increased 3.5 percent to $16.45 billion.

For the first six months of the year, revenue at stores open at least a year rose 4.2 percent, while total sales increased 4.8 percent to $32.99 billion.

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