economy
March 3, 2026
Target posts another quarter of slipping sales, offers upbeat annual profit outlook for 2026
Target reported another quarter of declining sales and profits as it works to regain its footing with customers facing higher prices almost everywhere, but the retailer offered a profit outlook that topped Wall Street expectations and signaled quarterly sales growth ahead.
TL;DR
- Target reported a 1.5% decrease in sales and a drop in profits for the most recent quarter.
- The company's full-year sales declined nearly 2% to $104.78 billion.
- Target forecasts net sales to rise about 2% for the upcoming year, reaching roughly $106.88 billion.
- The company's earnings per share forecast of $7.50 to $8.50 surpasses analysts' expectations.
- Comparable-store sales fell 2.5% in the recent quarter, following a 2.7% decline in the previous quarter.
- New CEO Michael Fiddelke is implementing changes in leadership, staffing, and private-label brands.
- Factors contributing to Target's struggles include untidy stores, merchandise issues, competition, and political/social controversies.
- Target noted acceleration in sales and traffic in the final two months of the period and positive trends at the start of the current quarter.
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