Target Corporation (TGT) Earnings Call Transcripts

Target Corporation's Latest Earnings Call - Q1 FY2027

In the first quarter of fiscal year 2026, Target Corporation (TGT:US) reported net sales of $25.4 billion, a 6.7% increase year-over-year, driven by a 5.6% rise in comparable sales. Earnings per share (EPS) were $1.71, reflecting a 24% decline from the prior year but a 32% increase on an adjusted basis. Management raised full-year guidance for net sales to a range centered around 4%, indicating confidence in sustained growth despite a cautious outlook due to challenging comparisons in the upcoming quarters.

Reported metrics

Guidance from management

Management raised full-year net sales guidance to a range centered around 4%, reflecting a more optimistic outlook than previously stated. EPS guidance was maintained near the high end of the prior range of $750 million to $850 million.

What management said

And I can add just more, Michael, on the top line. The way I would think about the top line guidance is approximately half of that increase of the full year guidance was driven by what we saw in Q1 and call it the balance for the rest of the year. As Michael mentioned, I won't get too precise about the numbers, but we did have the easiest comp in overlap from Q1 of last year. So we're facing a little more difficult ...

What analysts pressed on

Analysts expressed concerns about the sustainability of the strong Q1 performance, particularly given the challenging comparisons in Q2. There were also questions regarding the impact of cost headwinds on margins and the potential effects of declining consumer sentiment on future sales.

Main topics on the call

• Revenue Growth Acceleration — Target's net sales grew by 6.7% year-over-year, with comparable sales increasing by 5.6%. CEO Michael Fiddelke noted, "We're encouraged that this top line growth was broad-based with growth across both stores and digital...
• Merchandising Strategy Evolution — Management emphasized a renewed focus on merchandising, particularly in categories like beauty and food. Cara Sylvester stated, "We're intentionally leaning in more aggressively behind a set of prioritized assortments an...
• Operational Improvements — Target reported improvements in guest experience metrics, with Lisa Roath noting, "Many of our store experience metrics reached 3-year highs." However, challenges remain in product findability and in-stock availability.
• Guidance Update — Management raised full-year net sales guidance to a range centered around 4%, reflecting a more optimistic outlook than previously stated. CFO Jim Lee remarked, "This outlook is 2 percentage points stronger than our prio...

Read the full Target Corporation transcript (Q1 FY2027) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Target Corporation earnings call transcripts on record, spanning March 3, 2020 to May 20, 2026. Based on this history, Target Corporation reports quarterly. The most recent call on file is dated May 20, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

TGT

Exchange

NYSE

Country

US

Sector

Consumer Staples

Industry

Consumer Staples Distribution and Retail

Calls on record

30

First call

March 3, 2020

Most recent

May 20, 2026

Reporting cadence

quarterly