Target reported $25.4 billion in Q1 sales, beating estimates, and raised its annual net sales growth forecast to 4%.
Target posted first-quarter net sales of $25.4 billion, up nearly 7% year-over-year, exceeding the $24.6 billion analysts had projected. The retailer also reported earnings per share of $1.71, surpassing the $1.46 estimate, driven by broad-based demand across categories.
The company’s previous guidance had not anticipated such strong performance, with consensus expectations centered on more modest growth. Target’s results reflect a rebound in consumer spending, particularly in discretionary categories, after a period of cautious demand.
Target raised its full-year net sales growth outlook to approximately 4%, balancing optimism with caution. The updated forecast signals confidence in sustained demand while acknowledging economic uncertainties.