Target Corporation has announced its financial results for the second quarter of 2026, reporting net sales of $26.5 billion in Q2, up 5.3% from the second quarter of 2025. The quarter’s net sales reflected a 5.0% increase in merchandise sales and a 20.1% increase in non-merchandise sales. 

Comparable sales grew 3.8% in the second quarter, reflecting a comparable store sales increase of 2.7% and a comparable digital sales increase of 8.7%. The Company reported second quarter GAAP and Adjusted earnings per share (EPS) of $4.11, compared with prior-year GAAP and Adjusted EPS of $2.05.

“Second quarter results build on the encouraging momentum we saw in the first quarter, giving us increasing confidence that our strategy is resonating with our guests and strengthening our leadership position in style, design and value,” says Michael Fiddelke, chief executive officer of Target. “Over the past year, we’ve reduced prices on more than 10,000 frequently purchased items as part of our commitment to delivering outstanding value every day, while continuing to invest in newness, convenience and an elevated shopping experience. While there’s still meaningful work ahead, we’re encouraged by the progress we’re making and remain focused on executing with discipline, staying agile in a dynamic operating environment and investing in our team and capabilities to drive sustainable, profitable growth over the long term.”

The company also updated its guidance for the remainder of 2026, anticipating: 

•Full-year net sales growth in a range around 5%, one percentage point higher than the prior guidance range.

•Full-year 2026 operating income margin rate in a range around 6%, including approximately 90 basis points of benefit from Q2 tariff refunds. Excluding tariff refunds, full-year operating income margin rate is expected to be in a range around 50 basis points higher than last year’s Adjusted operating income margin rate of 4.6%.

•An updated GAAP and Adjusted EPS guidance range of $9.90 to $10.90, which includes second quarter tariff refund benefits of approximately $1.65. Excluding tariff refunds, the midpoint of the guidance range reflects a $0.75 increase versus prior guidance of $7.50 to $8.50.