MINNEAPOLIS -- Target Corporation (NYSE: TGT) today announced its first quarter 2026 financial results.
The Company reported first quarter GAAP and Adjusted earnings per share (EPS) of $1.71, compared with prior-year GAAP EPS2 of $2.27 and Adjusted EPS of $1.30. All earnings per share figures are calculated on a diluted basis.
"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," said Michael Fiddelke, Chief Executive Officer of Target. "While we're pleased with our Q1 performance, our focus remains on building consistent, long-term growth, and we recognize there is much more work in front of us. As we look ahead, we're focused on staying disciplined and flexible in an uncertain operating environment and continuing to invest boldly in our team, capabilities, and an elevated guest experience to unlock our full potential over time."
FIRST QUARTER HIGHLIGHTS
• First quarter net sales grew 6.7 percent over last year, well above expectations.
• Topline strength was broad-based across merchandise categories, sales channels and across the quarter.
• Comparable traffic grew 4.4 percent compared with Q1 2025.
• Net sales in all six core merchandising categories were higher than a year ago.
• Digital comparable sales grew 8.9 percent, led by more than 27% growth in same-day delivery powered by Target Circle 360.
•. Non-merchandise sales grew nearly 25 percent, reflecting strong growth in Roundel ad revenue, Target Circle 360 membership revenue, and the Target+ marketplace.
• First quarter GAAP and Adjusted EPS1 was $1.71, 24 percent lower than prior-year GAAP EPS (which included non-recurring legal settlement gains), and 32 percent higher than prior-year Adjusted EPS.