Target Corp. reported a 6.7% year-over-year increase in net sales for the first quarter of 2026. Adjusted earnings per share reached $1.71, surpassing analyst expectations. This figure represents a 32% increase from the $1.30 adjusted EPS reported in the previous year. Customer traffic grew 4.4% during the period.
Target shares declined in pre-market trading despite the earnings beat. Investors cited a lower operating income margin rate compared to the prior year’s GAAP results. Rising selling, general, and administrative (SG&A) expenses further pressured the stock. These results reflect broader market sensitivity to retail profitability despite strong consumer spending.