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Target tops Q1 expectations as comparable sales rise 5.6%
Photo via YAHOO FINANCE

Target tops Q1 expectations as comparable sales rise 5.6%

2 min read·13 days ago·4 cited

First-quarter results came in stronger than expected, prompting Target to raise its full-year financial estimates after posting solid sales gains, Yahoo Finance reported. [1]

For the quarter ended May 2, 2026, the retailer reported comparable sales up 5.6%. [1] Target said first-quarter sales increased 6.7% to $23.4 billion, and it also posted net sales of $25.4 billion, a 6.7% increase from a year ago. [1] The company reported first-quarter earnings per share of $1.71. [1]

Target Reports Strongest Sales Gain in Years, But Sounds Note of Caution
Target Reports Strongest Sales Gain in Years, But Sounds Note of Caution — YAHOO FINANCE

Target Chief Executive Officer Michael Fiddelke pointed to momentum across the business, saying, “First quarter financial results were stronger than expected, providing encouraging early signs that our clarified strategy is resonating with our guests and driving broad-based growth across our business.” [1]

Target Q1 2026 earnings beat: sales surge, outlook raised
Target Q1 2026 earnings beat: sales surge, outlook raised — YAHOO FINANCE

Jefferies also characterized the period as a “clear beat,” citing broad-based strength across all six merchandising categories and channels. [1] Target executives said they lifted full-year financial estimates following the sales gains. [1]

The latest quarterly update follows a stretch of upheaval for the retailer that began on Aug. 20, 2025, when Target named a new CEO as the business struggled. [1] On Feb. 10, 2026, the company reshaped its leadership team in the first big move after the new CEO took over, and it cut 500 jobs while boosting store staffing to improve the customer experience. [1]

Timeline· Developing

Target is undergoing a significant corporate restructuring and workforce reduction amid ongoing business struggles, marked by a new CEO's leadership team reshuffle including Jeff England as supply chain chief; despite reporting the strongest sales gain in years, the retailer's shares fell due to flagged cost headwinds and a cautious outlook.

  1. Target cuts 500 roles, invests in store payroll

  2. Big box retailer Target names new CEO as business struggles

  3. Target cuts 500 jobs, boosts store staffing to improve experience

  4. Target CEO reshapes his leadership team in first big move since taking over this month

  5. Target Breezes Past Q1 Estimates in CEO Michael Fiddelke’s First Quarter

  6. Target names Jeff England as supply chain chief

Related Coverage (1)

Target names Jeff England executive vice president and chief global supply chain and logistics officer

Jeff England will take the executive vice president and chief global supply chain and logistics officer role effective May 31, 2026.

Sources (1)

1.
Yahoo Finance

Target Q1 2026 earnings beat: sales surge, outlook raised

finance.yahoo.com

Published May 20, 2026

Synthesized from 4 sources

Target tops Q1 expectations as comparable sales rise 5.6% | Nova News