Target Corporation (TGT) Research

Forward Estimates

EPS Estimates

Current Qtr

$2.24

$2.05$2.76

vs $2.05+9.5%

31 analysts

Next Qtr

$1.90

$1.71$2.12

vs $1.78+6.8%

31 analysts

Current Yr

$8.34

$7.59$8.96

vs $7.57+10.1%

36 analysts

Next Yr

$8.90

$7.09$9.85

vs $8.34+6.7%

36 analysts

Revenue Estimates

Current Qtr

$26.01B

$25.77B$26.27B

vs $25.21B+3.2%

29 analysts

Next Qtr

$26.08B

$25.69B$26.30B

vs $25.27B+3.2%

29 analysts

Current Yr

$108.86B

$107.07B$109.62B

vs $104.78B+3.9%

34 analysts

Next Yr

$111.98B

$109.02B$113.98B

vs $108.86B+2.9%

36 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for TGT on EDGAR.

TGT filing events and research context
Filed	Item	Context
May 29, 2026	mda_quarterly	Net sales for the first quarter of 2026 rose 6.7% to $25.4 billion, driven by a 5.6% increase in comparable sales, which reflected a 4.4% rise in traffic and a 1.1% increase in average transaction amounts. Adjusted operating income grew 29.1% to $1.1 billion, and adjusted diluted EPS increased 31.6% to $1.71. Growth was significantly supported by the Roundel digital advertising business, which contributed to a 24.6% increase in non-merchandise sales. Gross margin expanded to 29.0%, aided by lower markdown rates and advertising revenue, though partially offset by higher product costs. Digitally originated comparable sales grew 8.9%. A primary risk remains the volatile trade environment; while the company is pursuing IEEPA tariff refunds through the CAPE system, new administration tariffs on imports—particularly from China—threaten future margins. Operationally, the company is executing a multi-year business transformation to optimize organizational structure and technology. Financial liquidity remains stable with $3.5 billion in cash, a reduction in inventory to $12.3 billion, and the repayment of $1.0 billion in unsecured debt. Trailing twelve-month after-tax ROIC declined to 12.4% from 15.1% in the prior year.
Mar 11, 2026	business	Target Corporation operates as a single-segment omnichannel retailer specializing in general merchandise and groceries. The company leverages its physical stores as primary fulfillment hubs, with stores fulfilling over 97% of total merchandise sales to reduce costs and increase convenience. Revenue is diversified across merchandise sales, advertising services via Roundel, and credit card profit-sharing through the Target Circle Card program. Approximately 30% of merchandise sales are derived from owned and exclusive brands, supplemented by strategic partnerships with brands like Apple and Starbucks, though the Ulta Beauty partnership will terminate in August 2026. Target sources roughly half of its merchandise internationally, with China as the primary origin, exposing the company to customs compliance and tariff risks. To drive loyalty and trip frequency, Target utilizes the Target Circle ecosystem, which includes a paid membership tier, Target Circle 360. The company competes against a broad array of omnichannel retailers, wholesale clubs, and online marketplaces. Effective inventory management and demand forecasting remain critical to mitigating markdowns, particularly within seasonal and apparel categories.
Mar 11, 2026	mda	Target faced a challenging 2025 environment marked by value-focused consumers and significant tariff volatility. Net sales decreased 1.7% to $104.8 billion, while comparable sales fell 2.6%, driven primarily by a 2.2% decline in traffic. Adjusted EPS dropped 14.5% to $7.57, and after-tax ROIC declined to 13.8%. Strategic pivots include the "Fun 101" Hardlines transformation and owned-brand expansions such as Good Little Garden and partnerships with Taylor Swift and Tom Holland. The company is leveraging AI through Precision Plus by Roundel and expanding its Target Plus third-party marketplace. Operational efficiency was supported by a return of inventory shrink to pre-pandemic levels and a $250 million business transformation initiative involving headquarters workforce reductions. A critical risk remains tariff volatility, particularly regarding imports from China; while the U.S. Supreme Court ruled IEEPA tariffs unauthorized, the timing and amount of any recovery remain uncertain. Target maintains a strong liquidity position with $5.5 billion in cash and plans $5 billion in 2026 capital expenditures to support 30 new store openings and continued supply chain enhancements.

Filed

Item

Context

May 29, 2026

mda_quarterly

Net sales for the first quarter of 2026 rose 6.7% to $25.4 billion, driven by a 5.6% increase in comparable sales, which reflected a 4.4% rise in traffic and a 1.1% increase in average transaction amounts. Adjusted operating income grew 29.1% to $1.1 billion, and adjusted diluted EPS increased 31.6% to $1.71. Growth was significantly supported by the Roundel digital advertising business, which contributed to a 24.6% increase in non-merchandise sales. Gross margin expanded to 29.0%, aided by lower markdown rates and advertising revenue, though partially offset by higher product costs. Digitally originated comparable sales grew 8.9%. A primary risk remains the volatile trade environment; while the company is pursuing IEEPA tariff refunds through the CAPE system, new administration tariffs on imports—particularly from China—threaten future margins. Operationally, the company is executing a multi-year business transformation to optimize organizational structure and technology. Financial liquidity remains stable with $3.5 billion in cash, a reduction in inventory to $12.3 billion, and the repayment of $1.0 billion in unsecured debt. Trailing twelve-month after-tax ROIC declined to 12.4% from 15.1% in the prior year.

Mar 11, 2026

business

Target Corporation operates as a single-segment omnichannel retailer specializing in general merchandise and groceries. The company leverages its physical stores as primary fulfillment hubs, with stores fulfilling over 97% of total merchandise sales to reduce costs and increase convenience. Revenue is diversified across merchandise sales, advertising services via Roundel, and credit card profit-sharing through the Target Circle Card program. Approximately 30% of merchandise sales are derived from owned and exclusive brands, supplemented by strategic partnerships with brands like Apple and Starbucks, though the Ulta Beauty partnership will terminate in August 2026. Target sources roughly half of its merchandise internationally, with China as the primary origin, exposing the company to customs compliance and tariff risks. To drive loyalty and trip frequency, Target utilizes the Target Circle ecosystem, which includes a paid membership tier, Target Circle 360. The company competes against a broad array of omnichannel retailers, wholesale clubs, and online marketplaces. Effective inventory management and demand forecasting remain critical to mitigating markdowns, particularly within seasonal and apparel categories.

Mar 11, 2026

mda

Target faced a challenging 2025 environment marked by value-focused consumers and significant tariff volatility. Net sales decreased 1.7% to $104.8 billion, while comparable sales fell 2.6%, driven primarily by a 2.2% decline in traffic. Adjusted EPS dropped 14.5% to $7.57, and after-tax ROIC declined to 13.8%. Strategic pivots include the "Fun 101" Hardlines transformation and owned-brand expansions such as Good Little Garden and partnerships with Taylor Swift and Tom Holland. The company is leveraging AI through Precision Plus by Roundel and expanding its Target Plus third-party marketplace. Operational efficiency was supported by a return of inventory shrink to pre-pandemic levels and a $250 million business transformation initiative involving headquarters workforce reductions. A critical risk remains tariff volatility, particularly regarding imports from China; while the U.S. Supreme Court ruled IEEPA tariffs unauthorized, the timing and amount of any recovery remain uncertain. Target maintains a strong liquidity position with $5.5 billion in cash and plans $5 billion in 2026 capital expenditures to support 30 new store openings and continued supply chain enhancements.

Forward Estimates

TGT filing events and research context

Keep researching TGT

Related tickers

Related explainers

Forward Estimates