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Target Posts Strong Q1 Results, Raises Full-Year Outlook

Target exceeded Wall Street expectations in first-quarter results Wednesday, posting net sales growth of more than 6% year-over-year. Same-store sales rose 6%—the retailer's first positive comparable-store performance in five quarters. Traffic across physical locations and digital channels rose 4.4%, while same-day delivery penetration climbed 9% driven by Target Circle 360 membership adoption. Non-merchandise revenues surged nearly 25%, boosted by membership and Target+ marketplace expansion. The company reported gains across all six core merchandising categories, with particular strength in health and wellness, toys and baby segments. CEO Michael Fiddelke, who assumed leadership earlier in 2026, credited the turnaround to renewed focus on style, design and value. Target opened seven stores during the quarter and advanced more than 100 remodel projects. The retailer raised its full-year sales guidance on the momentum.