
• Reported GAAP EPS of $2.31 down -4.55% YoY • Reported revenue of $30.45B down -1.49% YoY • Target expects full-year 2026 net sales growth around 2 percent, operating income margin rate 20 basis points higher than 4.6 percent in 2025, and GAAP and Adjusted EPS of $7.50 to $8.50.
Bullish
Target achieved net sales growth in key categories and non-merchandise, improved Q4 gross margin to 26.6 percent due to lower shrink, and saw accelerated sales trends with strong same-day delivery growth.
Bearish
Target experienced full-year GAAP EPS and Adjusted EPS declines, with net sales decreasing 1.7 percent and comparable sales down 2.6 percent, alongside an 8.1 percent drop in full-year operating income.