The retailer reported stronger-than-expected revenue growth across all core categories for the quarter ending May 2.
Target Corporation posted a 6.7% year-over-year increase in first-quarter sales, reaching $25.4 billion. The growth was driven by higher sales in all six of its core merchandising categories, signaling strong consumer demand.
The results exceeded expectations, with prior-year sales serving as a lower baseline due to softer retail trends. Analysts had anticipated modest gains, but the broad-based category performance underscored resilience in discretionary spending.
Shares rose in early trading as investors reacted to the earnings beat and improved outlook.