Target April sales rise, but miss analysts’ view

MINNEAPOLIS — Target Corp. says a key sales figure rose 1.1 percent in April, but it fell short of analysts’ expectations.

Analysts expected a 2.8 percent increase in stores opened at least one year, according to Thomson Reuters. That metric is a key gauge of a retailer’s health because it excludes results from stores recently opened or closed.

Total sales during the four-week period ended April 28 rose 2 percent to $4.98 billion. The company says sales of Easter-related categories like candy and apparel were hurt by Easter occurring two weeks earlier this year, pushing some sales into March.

First-quarter sales rose 6 percent to $16.54 billion, slightly below analysts’ expectations of $16.83 billion, according to FactSet.