Target fares well in July

MINNEAPOLIS — Target's net retail sales and comparable-store sales both realized gains of more than 3% during July, the retailer said.

Target net retail sales increased 3.2% to nearly $5 billion, while comps rose 3.1%. Target chairman, president and CEO Gregg Steinhafel said the company "was pleased" with the comps rise, which was in line with the company's expectation going into the quarter.

"Guests continue to respond to our innovative merchandising, remodel program and 5% REDcard Rewards, driving healthy increases in traffic and sales in a consumer environment that remains quite challenging," Steinhafel said.