Target reports another quarter of declining sales but says it sees some green shoots
#Target #declining sales #profits #inflation #quarterly earnings #comparable-store sales #Wall Street expectations
📌 Key Takeaways
- Target reported another quarter of declining sales and profits
- The company's results exceeded Wall Street expectations
- Comparable-store sales rose at the start of the current quarter
- Target expects net sales to grow every quarter this year
- Shares jumped more than 4% following the earnings report
📖 Full Retelling
Target reported another quarter of declining sales and profits on March 3, 2026, as the Minneapolis-based retailer struggles to regain its footing with customers contending with higher prices almost everywhere amid still-high inflation and shopper boycotts. The company earned $2.30 per share, or $1.05 billion, for the three-month period ended January 31, 2026, down from $2.41 per share, or $1.10 billion, during the same period in the previous year. Despite this decline, Target's adjusted earnings per share reached $2.44, while sales fell 1.5% to $30.45 billion. For the full year, the company's sales decreased nearly 2% to $104.78 billion. These results came in slightly better than analysts' expectations, who had forecasted $2.16 per share on sales of $30.46 billion according to a FactSet survey. In a positive sign, Target reported that comparable-store sales rose at the beginning of the current quarter, and the company expects net sales to grow every quarter throughout the remainder of 2026. The optimistic outlook, which exceeded Wall Street projections, caused Target's shares to jump more than 4% before the opening bell.
🏷️ Themes
Retail performance, Consumer spending, Economic outlook
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Original Source
Target reports another quarter of declining sales but says it sees some green shoots Target reported another quarter of lower sales and profits as the discounter struggles to regain its footing in an environment where it has faced still-high inflation and shopper boycotts By ANNE D'INNOCENZIO AP retail writer March 3, 2026, 6:45 AM MINNEAPOLIS -- Target reported another quarter of declining sales and profits as it as the retailer struggles to regain its footing with its customers contending with higher prices almost everywhere. But the Minneapolis company on Tuesday offered a solid annual profit outlook that was better than Wall Street had been projecting, It also said it believes net sales with grow every quarter this year. Target also said comparable-store sales rose to start the current quarter. Shares jumped more than 4% before the opening bell. Popular Reads Iran war live updates: Trump touts 'virtually unlimited' supply of US munitions 21 minutes ago Terrorism motive probed in mass shooting at Austin bar: FBI Mar 1, 9:33 PM Nancy Guthrie live updates: More than 1 suspect not ruled out, sheriff's office says Feb 21, 5:31 PM The company earned $2.30 per share, or $1.05 billion, for the three-month period ended Jan. 31. That compares with $2.41 per share, or $1.10 billion, during the year-ago period. Adjusted earnings per share for the most recent quarter was $2.44. Sales fell 1.5% to $30.45 billion during the latest period. For the full year, sales fell nearly 2% to $104.78 billion. Analysts were expecting $2.16 per share on sales of $30.46 billion, according to a survey by FactSet. Related Topics Target Sponsored Content by Taboola Popular Reads Iran war live updates: Trump touts 'virtually unlimited' supply of US munitions 21 minutes ago Nancy Guthrie live updates: More than 1 suspect not ruled out, sheriff's office says Feb 21, 5:31 PM Terrorism motive probed in mass shooting at Austin bar: FBI Mar 1, 9:33 PM Trump orders US govt to cut ties with Anthropic; H...
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