The earnings call reflected a mixed performance with significant achievements in digital sales and inventory management offset by pressures from declining sales, consumer confidence, and discretionary categories. The company is focused on improving fundamentals, expanding its marketplace, and accelerating growth strategies.

Company Guidance -

Q2 2025

During the Target Corporation's first-quarter earnings call for fiscal year 2025, the company provided guidance suggesting a cautious outlook for the rest of the year amid challenging conditions. Target reported a 2.8% decline in net sales and a 3.8% drop in comparable sales, driven by a 2.4% decrease in traffic and a 1.4% lower average ticket. The gross margin rate fell by about 60 basis points to 28.2%, impacted by higher markdowns and digital fulfillment costs, partially offset by a 120 basis point benefit from lower inventory shrink. Target's adjusted EPS was $1.30, excluding a $0.97 benefit from litigation settlements, compared to $2.03 last year. Looking ahead, Target expects a low single-digit decline in sales for the full year, with adjusted EPS guidance set between $7 and $9 due to uncertainties like tariffs and consumer spending. The company highlighted several initiatives to bolster growth, including a focus on retail fundamentals, leveraging its multi-category portfolio, and enhancing digital capabilities. Target also announced the formation of an Enterprise Acceleration office to drive faster decision-making and operational improvements.

Digital Sales Growth

Mid-single-digit growth in first-party digital business, led by 36% growth in same-day delivery powered by Target Circle 360.

Progress in Inventory Management

Meaningful progress on inventory shrink with rates moderating from extreme levels encountered in 2022 and 2023.

Successful Designer Collaboration

Strong sales results from the Kate Spade partnership, the most successful limited-time partnership in a decade.

Target Plus Marketplace Growth

Target Plus GMV grew by more than 20%, adding hundreds of new partners to the platform.

Increased Shipping Speed

Q1 average click to deliver speed was nearly 20% faster compared to last year.

Target (TGT) Earnings, Revenues Date & History

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TGT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 20, 2025	2025 (Q2)	2.01 / -	2.57	―	―	―
May 21, 2025	2025 (Q1)	1.56 / 1.30	2.03	-35.96% (-0.73)
Mar 04, 2025	2024 (Q4)	2.27 / 2.41	2.98	-19.13% (-0.57)
Nov 20, 2024	2024 (Q3)	2.30 / 1.85	2.1	-11.90% (-0.25)
Aug 21, 2024	2024 (Q2)	2.18 / 2.57	1.8	42.78% (+0.77)
May 22, 2024	2024 (Q1)	2.05 / 2.03	2.05	-0.98% (-0.02)
Mar 05, 2024	2023 (Q4)	2.43 / 2.98	1.89	57.67% (+1.09)
Nov 15, 2023	2023 (Q3)	1.47 / 2.10	1.54	36.36% (+0.56)
Aug 16, 2023	2023 (Q2)	1.43 / 1.80	0.39	361.54% (+1.41)
May 17, 2023	2023 (Q1)	1.77 / 2.05	2.19	-6.39% (-0.14)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TGT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 21, 2025	$98.12	$93.01	-5.21%
Mar 04, 2025	$119.40	$115.82	-3.00%
Nov 20, 2024	$151.83	$119.33	-21.41%
Aug 21, 2024	$139.39	$155.00	+11.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.