Comparable sales surged 5.6% in Q1, the strongest gain in over two years, as new strategies drive growth in key categories.
Target reported a 5.6% rise in comparable sales for the quarter ended May 2, its strongest quarterly increase since early 2022. The gain reflects early success from refreshed product assortments and store layouts, particularly in baby, toy, and health departments.
The results compare with a sales decline in the same period last year but outpace recent trends. Executives noted shoppers responded positively to customer-service changes and new offerings, prompting the company to lift its full-year financial estimates.
Despite the upbeat results, Target cautioned that the current quarter may face challenges, including tough comparisons to last year’s gaming console launch and potential macroeconomic headwinds.