Target reported first quarter 2026 net sales of $25.44 billion, a 6.7% increase year-over-year, and Adjusted EPS of $1.71. Results were driven by a significant turnaround in customer traffic and broad-based growth, leading the company to raise its full-year sales forecast.
Key Highlights
- Comparable sales showed a strong inflection, growing 5.6% year-over-year, a significant reversal from the 3.8% decline in the same quarter last year.
- The comparable sales growth was driven by a 4.4% increase in customer traffic and a 1.1% increase in average transaction amount.
- Digital comparable sales continued to perform well, growing 8.9%, while store-originated comparable sales rebounded to 4.7% growth from a 5.7% decline a year ago.
- Target raised its full-year 2026 net sales growth guidance to a range around 4%, up two percentage points from its prior outlook, and expects EPS to be near the high end of its $7.50 to $8.50 range.