The retailer reports stronger traffic and higher spending in Q2, crediting price reductions and improved store experiences for growth.
Target posted a 5.3% year-over-year increase in second-quarter net sales, reaching $26.5 billion, as comparable sales rose 3.8%. The company attributed the growth to higher shopper traffic, which climbed 3.6%, and improved in-store experiences.
The results build on first-quarter momentum, with CEO Michael Fiddelke citing stronger leadership in style, design, and value. Comparable sales growth also reflects efforts to sharpen merchandise and enhance convenience.
Target plans additional price cuts this year after reducing prices on over 10,000 items in the past 12 months. The strategy aims to reinforce its position as a destination for everyday purchases.