Target Corporation (TGT) reported first-quarter financial results that significantly exceeded analyst expectations. The retailer raised its full-year sales forecast following the performance.
Adjusted earnings per share reached $1.71, surpassing the $1.41 consensus estimate. This profit figure represents a 31.5% increase from the prior year. Net sales grew 6.7% year-over-year to $25.4 billion.
Customer traffic increased by 4.4% during the quarter. Digital comparable sales rose 8.9%. Growth was broad-based across all major merchandise categories.
Target raised its 2026 net sales growth outlook to approximately 4%. The company expects full-year earnings to reach the high end of its $7.50 to $8.50 range. The results suggest consumer resilience despite broader economic pressures.