Target Q1 net sales rise 6.7% to $25.4 billion; 2026 sales growth outlook raised
Target reported first-quarter 2026 net sales of $25.4 billion, up 6.7% from a year earlier, and raised its 2026 net sales growth expectation to about 4%. Diluted EPS was $1.71, down 24.5% from the prior-year GAAP EPS of $2.27, which included $441 million of after-tax interchange fee settlement gains, but up 31.6% from prior-year Adjusted EPS of $1.30. For shareholders, sales and adjusted profit grew, and full-year EPS is now expected near the high end of the $7.50 to $8.50 range.
Key points
- Net sales of $25.4 billion rose 6.7%; comparable sales grew 5.6%, with comparable traffic up 4.4%.
- GAAP and Adjusted diluted EPS of $1.71 compared with $2.27 GAAP and $1.30 Adjusted in Q1 2025.
- 2026 guidance: net sales growth around 4%, two percentage points above the prior range; GAAP and Adjusted EPS near the high end of $7.50 to $8.50.
- No stock repurchases in Q1; about $8.3 billion remained under the August 2021 repurchase authorization.
The filing
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 May 20, 2026.
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.