economy
March 3, 2026
Target says it's on track to end its sales slump after another lackluster quarter
The big-box retailer Target posted its fiscal fourth-quarter results as it hosted an investor meeting at its Minneapolis headquarters.
TL;DR
- Target's fourth-quarter revenue declined 1.5% year-over-year, missing analyst expectations.
- Adjusted earnings per share exceeded estimates at $2.44, compared to the expected $2.16.
- Customer traffic has fallen for four consecutive quarters, though sales trends improved in the final two months of the holiday quarter and turned positive in February.
- The company anticipates net sales to rise about 2% for the full fiscal year, with growth expected in every quarter.
- Target plans to increase capital expenditures to about $5 billion this fiscal year, focusing on supply chain, technology, and store improvements, including opening over 30 new stores and remodeling more than 130.
- Backlash over DEI initiatives and perceptions of declining store quality have been cited as factors contributing to sales losses.
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