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AI brief of an SEC Form 8-K · Target (TGT)

Target Q2 EPS falls 20% to $2.05 on lower sales; names Michael Fiddelke next CEO

Negative Impact 4 of 5 earnings Written later

Target reported second quarter 2025 net sales of $25.2 billion, down 0.9% from last year, and diluted EPS of $2.05 versus $2.57 a year earlier. Operating income fell 19.4% to $1.3 billion, and the company kept its fiscal 2025 guidance unchanged while its board named Michael Fiddelke as its next CEO.

Key points

  • Net sales were $25.2 billion, down 0.9%; comparable sales fell 1.9%, with comparable store sales down 3.2% and digital up 4.3%.
  • Diluted EPS was $2.05 compared with $2.57 in 2024, a 20.2% decline; operating income margin rate was 5.2% versus 6.4%.
  • Fiscal 2025 guidance was maintained: GAAP EPS of $8.00 to $10.00 and adjusted EPS of approximately $7.00 to $9.00.
  • The board unanimously appointed Michael Fiddelke as Target's next CEO; no stock was repurchased in the second quarter.

The filing

CompanyTarget (TGT)
Form8-K, current report
Filed with the SECAug 20, 2025, 6:45 AM ET
Accession number0000027419-25-000115

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 20, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.