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Wal-Mart Reports 13.7% Increase in Sales for April; Target Does Better With 17.3%
By: Mari Davis

app_gen_125X125 DALLAS, May 4, 2006 / FW/ --- As April sales reports roll out, discounters raked it in during the Easter season as giant retailer Wal-Mart reports 13.7% increase in sales for April and fashion-forward Target files 17.3%.

Wal-Mart’s performance, a long time bellwether for retail sales due to its size and reach is a good sign overall for the industry.

With $25.871 billion in April sales compared to $22.302 during the same period last year, Wal-Mart increased its sales by more than $3.5 billion. According to Tom Schoewe, Wal-Mart Stores, Inc. executive vice president and chief financial officer of the company, “April was a strong month for toys, from traditional items like dolls, balls and outdoor toys to electronics as they were used to fill Easter baskets together with the candy.

"With a 6.8 comp in April, we were pleased with strong seasonal sales for Easter," said Schoewe in a statement. "Rising fuel costs were overshadowed by the customers' response to merchandise in apparel for the entire family and consumables.

Target’s financial performance is also on the bright side, with 17.3% increase to $3.974 billion in April from $3.387 billion during the same period last year. On this same basis, comparable-store sales increased 10.4 percent from fiscal April 2005.

"Target's comparable store sales for the month of April were in line with our expectations, reflecting the effect of this year's later Easter holiday," said Bob Ulrich, chairman and chief executive officer of Target Corporation in a statement.

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