The retailer reported $26.5 billion in net sales and raised full-year guidance following stronger-than-expected earnings and growth.
Target posted second-quarter net sales of $26.5 billion, a 5.3% year-over-year increase, driven by broad-based category growth and a 3.8% rise in comparable sales. Earnings per share reached $4.11, including a $1.65 boost from tariff refunds, with underlying EPS up 20% from the prior year.
The company raised its full-year net sales growth outlook to approximately 5% and adjusted its EPS guidance to a range of $9.90 to $10.90, reflecting a $0.75 midpoint increase excluding the tariff benefit. Digital sales grew 8.7%, while same-day delivery surged over 25%.
Despite the positive results, Target’s stock fell roughly 4% in premarket trading.