The retailer forecasts annual earnings near the top of its $7.50-$8.50 range following stronger-than-expected Q1 growth.
Target reported a 6.7% rise in first-quarter net sales, driven by a 5.6% increase in comparable sales. The company cited broad-based strength across all six core merchandise categories, outperforming internal expectations.
Management now expects full-year net sales to grow around 4% and earnings per share to land near the high end of its $7.50-$8.50 guidance range. The Q1 performance follows a period that lapped the Nintendo Switch 2 launch, a key driver of prior-year results.
Shares showed limited immediate reaction as the update aligned with recent positive trends in retail spending data.