New York - Target and Costco both reported higher overall sales and comp-store sales in July.
Target said net retail sales for the four weeks, ended July 28, were $4.99 billion, an increase of 3.2 percent from $4.84 billion for the same period last year. July comp-store sales increased 3.1 percent.
"We're pleased with Target's July comparable-store sales increase of 3.1 percent," said Gregg Steinhafel, chairman, president and CEO of Target. And while he called the current market "quite challenging," Steinhafel noted, "In addition, our second-quarter comparable-store sales increase of 3.1 percent was right in line with our expectation going into the quarter."
Costco reported net sales of $7.25 billion for the month of July, the four weeks ended July 29, an increase of 8 percent from $6.74 billion during the similar period last year.
Comp-store sales in the U.S. were up 8 percent during the month excluding gasoline sales.