The firm disclosed adjusted earnings of $1.71 per share for the quarter, surpassing Wall Street’s expectations of $1.45 per share. This figure also marked a 31.5 percent increase compared to the same period last year.
In the first quarter, Target generated revenue of $25.44 billion, which exceeded analyst estimates of $24.61 billion and represented a 6.7 percent year-over-year growth.
Michael Fiddelke, Chief Executive Officer of Target, stated, “First quarter financial results were stronger than expected, providing encouraging early signs that our clarified strategy is resonating with our guests and driving broad-based growth across our business.”
For the fiscal year 2026, Target projected earnings per share to range between $7.50 and $8.50, with revenue expected to be between $108.45 billion and $109.50 billion. This outlook compares with analyst expectations of $8.14 per share and $107.22 billion in revenue.
In pre-market trading, shares of Target Corporation (NYSE: TGT) are down 3.53 percent to $122.80, reflecting a decrease of $4.50 from the previous close of $127.30.
