• Target posted GAAP diluted EPS of $1.71 in Q1 ended May 2, 2026, down 24.5% from a year earlier.
• Operating income fell 22.9% to $1.14 billion, while net sales rose 6.7% to $25.44 billion.
• Comparable sales increased 5.6%, driven by a 4.4% rise in traffic and a 1.1% lift in average transaction amount.
• Gross margin rate widened 0.8 percentage points to 29%, while SG&A expense rate rose 2.6 percentage points to 21.9%.
• Tariff refunds tied to IEEPA remained uncertain; no receivable was booked as of May 2, 2026, while post-quarter refunds were not material.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Target Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000027419-26-000022), on May 29, 2026, and is solely responsible for the information contained therein.