8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 3, 2006

Target Corporation

(Exact name of registrant as specified in its charter)

Minnesota	1-6049	41-0215170
(State or other	(Commission	(I.R.S. Employer
jurisdiction of incorporation)	File Number)	Identification No.)

1000 Nicollet Mall, Minneapolis, Minnesota 55403

(Address of principal executive offices, including zip code)

(612) 304-6073

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02               Results of Operations and Financial Condition.

On August 3, 2006, Target Corporation issued a News Release relating to its July sales results. The News Release is attached hereto as Exhibit 99. Forward-looking statements in this News Release should be considered in conjunction with the cautionary statements in Exhibit (99)C to Target Corporation’s Annual Report on Form 10-K for the fiscal year ended January 28, 2006.

Item 9.01               Financial Statements and Exhibits.

(c) Exhibits

(99) Target Corporation’s News Release dated August 3, 2006, relating to its July sales results.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

TARGET CORPORATION

Date:	August 3, 2006	/s/ Scott Kennedy
		Scott Kennedy
		Controller

EXHIBIT INDEX

	Exhibit		Description		Method of Filing
(99)		Target Corporation’s News Release dated August 3, 2006, relating to its July sales results.		Filed Electronically

EX-99

FOR IMMEDIATE RELEASE	Contact:	Susan Kahn (investor)
		(612) 761-6735
		Cathy Wright (financial media)
		(847) 615-1538

TARGET CORPORATION JULY SALES UP 9.6 PERCENT

MINNEAPOLIS, August 3, 2006 — Target Corporation (NYSE:TGT) today reported that its net retail sales for the four weeks ended July 29, 2006 increased 9.6 percent to $3.937 billion from $3.593 billion for the four-week period ended July 30, 2005. On this same basis, comparable-store sales increased 3.1 percent from fiscal July 2005.

“We met our sales plan in the second quarter despite experiencing slower sales growth in July than we had enjoyed in May or June,” said Bob Ulrich, chairman and chief executive officer of Target Corporation. “We remain confident that our second quarter earnings per share will meet or exceed the current First Call median estimate of 69 cents.”  Last year Target Corporation earned 61 cents per share in the second quarter.

	Sales		Total Sales	Comparable Stores % Change
	(millions)		% Change	This Year	Last Year
July	$	3,937	9.6	3.1	5.5
Second Quarter	$	12,959	11.1	4.6	6.7
Year-to-Date	$	25,453	11.4	4.9	6.5

As a reminder, our current sales disclosure practice includes a sales recording on the day of our monthly sales release and one mid-month sales update. Consistent with this practice, a new message was recorded earlier today. Our next sales recording is expected to be issued after the market closes on Monday, August 14, 2006. These recordings may be accessed by calling 612-761-6500.

Target Corporation’s operations include large, general merchandise discount stores and a fully integrated on-line business through which we offer a fun and convenient shopping experience with thousands of highly differentiated and affordably priced items. The company currently operates 1,444 Target stores in 47 states. Forward-looking statements in this release should be read in conjunction with the cautionary statements in Exhibit (99)C to the company’s 2005 Form 10-K. Target Corporation news releases are available at www.target.com.

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