Target Backs Its May Sales Forecast

Target, the nation's second-largest discount retailer behind Wal-Mart, on Monday reiterated expectations for May same-store sales growth of 5% to 7%.

Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.

The company based its estimate on two weeks of actual sales and expectations for the remaining two weeks.

Target will report same-store sales for the four-week period ended June 2 on June 7. The company is scheduled to report its first-quarter earnings on Wednesday.

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