Jul 2026 (Q2 FY27) — Aug 19, 2026
Target Q2 FY27 — Strong Traffic Growth and Strategic Momentum
Read the full callTarget (TGT) earnings
- Aug 2026
- Jul 2026 (Q2 FY27)
- Jan 2026
Target earnings: last reported Wed, 19 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 26,539 | +5.3% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 9.7 | +4.4 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,877 | +100.7% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 18 judged targets kept · 33 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New food distribution centre opening | another food distribution centre opening in 2026 | Jan 2025 | adding network capacity with 2 recently opened facilities, a new receive center in Houston and a new food distribution center in Colorado | Achieved |
| Full-year GAAP and adjusted EPS | $7.50 to $8.50 | Jan 2026 | Given the profit upside we saw in the first quarter, we are now expecting to end the year near the high end of that range | Revised Up |
| New store openings | around 20 new stores | Jan 2025 | Ghosted |
4 of TARGET CORP's 51 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 48 more targets are in the full ledger.
Claimed
- Traffic growth increased 3.6% year-over-year, showing a slight acceleration on a 2-year basis compared to Q1.
- Net sales rose 5.3% year-over-year to $26.5 billion.
- Comparable sales increased 3.8%, driven by digital comparable sales growth of 8.7% and same-day delivery growth of over 25%.
- Gross margin rate expanded by 4.7 percentage points year-over-year to 33.7%, including a significant benefit from tariff refunds.
- Adjusted EPS reached $4.11, up from $2.05 last year, with underlying EPS (excluding tariff refunds) approximately 20% higher.
Qualified
- Performance in the Home and Apparel categories is not meeting expectations and is anticipated to require continued work into 2027 and beyond.
- SG&A expense grew 7% year-over-year, resulting in an SG&A rate of 21.6%, which was about 30 basis points higher than last year.
Price
$153.29 −0.63% · −$0.97
Performance +68.7% 1Y
1Y: $90.84 on 17 Oct 2025 → $153.29. High $169.89 (24 Aug 2026), low $83.68 (20 Nov 2025).
- Previous close
- $154.26
- 52-week range
- $83.68 – $169.89
- One year
- +67.48%
Overview
- Symbol
- TGT
- Sector
- Consumer Staples
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 18 judged targets kept · 33 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New food distribution centre opening | another food distribution centre opening in 2026 | Jan 2025 | adding network capacity with 2 recently opened facilities, a new receive center in Houston and a new food distribution center in Colorado | Achieved |
| Full-year GAAP and adjusted EPS | $7.50 to $8.50 | Jan 2026 | Given the profit upside we saw in the first quarter, we are now expecting to end the year near the high end of that range | Revised Up |
| New store openings | around 20 new stores | Jan 2025 | Ghosted |
Claimed
- Traffic growth increased 3.6% year-over-year, showing a slight acceleration on a 2-year basis compared to Q1.
- Net sales rose 5.3% year-over-year to $26.5 billion.
- Comparable sales increased 3.8%, driven by digital comparable sales growth of 8.7% and same-day delivery growth of over 25%.
- Gross margin rate expanded by 4.7 percentage points year-over-year to 33.7%, including a significant benefit from tariff refunds.
- Adjusted EPS reached $4.11, up from $2.05 last year, with underlying EPS (excluding tariff refunds) approximately 20% higher.
Qualified
- Performance in the Home and Apparel categories is not meeting expectations and is anticipated to require continued work into 2027 and beyond.
- SG&A expense grew 7% year-over-year, resulting in an SG&A rate of 21.6%, which was about 30 basis points higher than last year.
The full ledger
Open TARGET CORP’s full ledger
A free account opens 5 company ledgers a month. All 51 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q1 FY27) — May 20, 2026
Target Q1 FY27 — Strong Q1 Performance Driven by Traffic and Strategic Investments
Read the full callJan 2026 (Q4 FY26) — Mar 3, 2026
Target Corporation Q4 FY26 — New Chapter of Growth Driven by Strategic Investments
Read the full callEvery analysed call
Target earnings calls (TGT)
Financials
What the filings say
Net profit, year on year: +101% (quarter to aug 2026 against aug 2025).
| Line item | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Jan 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 25,668 | 30,915 | 23,846 | 25,211 | 25,270 | 30,453 | 25,443 | 26,539 |
| Operating profit | 1,168 | 1,467 | 1,472 | 1,317 | 948 | 1,380 | 1,135 | 2,560 |
| Operating margin | 4.5% | 4.8% | 6.2% | 5.2% | 3.8% | 4.5% | 4.5% | 9.7% |
| Interest | 105 | 90 | 116 | 116 | 115 | 98 | 117 | 98 |
| Profit before tax | 1,091 | 1,406 | 1,382 | 1,218 | 859 | 1,308 | 1,033 | 2,459 |
| Tax rate | 21.7% | 21.6% | 25.0% | 23.2% | 19.8% | 20.1% | 24.4% | 23.7% |
| Net profit | 854 | 1,103 | 1,036 | 935 | 689 | 1,046 | 781 | 1,877 |
| EPS ($ per share) | 1.86 | — | 2.28 | 2.06 | 1.52 | — | 1.72 | 4.13 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 43 | 42 | 42 | 39 | 38 | 38 | 38 | 38 |
| Reserves | 6,017 | 6,433 | 8,825 | 6,920 | 5,005 | 7,093 | 8,090 | 9,297 |
| Total liabilities | 29,993 | 30,946 | 36,808 | 40,984 | 42,103 | 41,924 | 43,103 | 43,325 |
| Fixed assets | 25,533 | 26,283 | 26,879 | 28,181 | 31,512 | 33,096 | 33,022 | 33,749 |
| Investments | 769 | 1,810 | 7,644 | 4,985 | 1,343 | 2,897 | 3,893 | 4,611 |
| Total assets | 41,290 | 42,779 | 51,248 | 53,811 | 53,335 | 55,356 | 57,769 | 59,490 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 5,973 | 7,117 | 10,525 | 8,625 | 4,018 | 8,621 | 7,367 | 6,562 |
| Cash from investing | -3,416 | -2,944 | -2,591 | -3,154 | -5,504 | -4,760 | -2,860 | -3,649 |
| Cash from financing | -3,644 | -3,152 | -2,000 | -8,071 | -2,196 | -2,285 | -3,550 | -2,187 |
| Net cash flow | -1,087 | 1,021 | 5,934 | -2,600 | -3,682 | 1,576 | 957 | 726 |
| Capital expenditure | -3,516 | -3,027 | -2,649 | -3,544 | -5,528 | -4,806 | -2,891 | -3,727 |
| Free cash flow | 2,457 | 4,090 | 7,876 | 5,081 | -1,510 | 3,815 | 4,476 | 2,835 |
TGT revenue by segment
| Segment | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +5.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
TGT operating KPIs by quarter
| KPI | Jan 2025 Q4 FY25 | Jan 2026 Q4 FY26 | Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|
| Employees | 400K+And I want to thank our more than 400,000 incredible team members who bring this experience to life every day for our guests and whose focus and dedication continues to raise the bar on guest experience.Source: earnings call transcript | 400KAnd so I feel really good about the team that we'll take the field with, both for the leadership team and across all 400,000 of our incredible team members that are going to power the growth we expect in '26.Source: earnings call transcript | 400K+With a renewed focus on what is possible and the team of more than 400,000 strong that solidly aligned behind our priorities, we're confident in our ability to deliver on our strategy and business plans, both this year and over time.Source: earnings call transcript | — | — |
| Stores | <2,000I was excited to come to Target because of the amazing brand backed by assets and scale that we can apply throughout our business, including nearly 2,000 stores served by more than 60 supply chain facilities and an experienced global sourcing organization with offices around the world; a large and diversified owned brand portfolio generating more than $31 billion in annual sales; a unique and balanced mix of 6 core merchandise categories, spanning both wants and daily needs, each of which generates well over $10 billion in annual sales; a full suite of digital fulfillment capabilities that together account for more than $20 billion in annual sales with one of the fastest-growing marketplaces in Target Plus; and one of the biggest loyalty programs in the country, Target Circle, which helps to fuel Roundel, one of the largest retail advertising businesses in the US With all these assets supporting our differentiated strategy, Target has a compelling growth opportunity in the years ahead, and I'm looking forward to sharing our progress with you over time.Source: earnings call transcript | — | 2,000+And finally, we're focused on driving greater consistency across our more than 2,000 stores.Source: earnings call transcript | — | — |
| New stores opened | — | — | 7In Q1, we opened 7 new stores, including our 2,000th location and we remain on track to open more than 30 this year.Source: earnings call transcript | 17This quarter, we opened 17 new stores.Source: earnings call transcript | +142.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
70 filings between Oct 31, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$26.01M
9 sales by 5 insiders
Compensation
not trading decisions- 38
- Award — granted as compensation
- 23
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Cornell Brian C | — | $20.76M | Aug 25, 2026 |
| Kremer Melissa K | — | $2.63M | Aug 24, 2026 |
| SYLVESTER CARA A | — | $1.26M | May 29, 2026 |
| ROATH LISA R | — | $966.5K | Jun 29, 2026 |
| LIEGEL MATTHEW A | — | $392.0K | Aug 21, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Lee James Executive Officer | Tax withheld | 7,636 | $1.21M |
| Sep 30, 2026 | WEINSTEIN MARK A. Executive Officer | Award | 2,142 | $0 |
| Sep 30, 2026 | WEINSTEIN MARK A. Executive Officer | Award | 23,787 | $0 |
| Aug 25, 2026 | Cornell Brian C Executive Officer | Sale | 50,000 | $8.18M |
| Aug 24, 2026 | Kremer Melissa K Executive Officer | Sale | 15,500 | $2.63M |
| Aug 21, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Sale | 926 | $151.4K |
| Aug 3, 2026 | DePinto Joseph Michael Director | Award | 1,007 | $0 |
| Jun 30, 2026 | McGee Grant B Executive Officer | Award | 4,127 | $0 |
| Jun 30, 2026 | McGee Grant B Executive Officer | Award | 15,282 | $0 |
| Jun 29, 2026 | ROATH LISA R Executive Officer | Sale | 7,000 | $966.5K |
| May 29, 2026 | SYLVESTER CARA A Executive Officer | Sale | 10,000 | $1.26M |
| May 27, 2026 | Cornell Brian C Executive Officer | Sale | 49,000 | $6.36M |
| May 27, 2026 | Cornell Brian C Executive Officer | Sale | 1,000 | $130.5K |
| Apr 7, 2026 | FIDDELKE MICHAEL J Executive Officer | Tax withheld | 5,131 | $619.6K |
| Apr 7, 2026 | FIDDELKE MICHAEL J Executive Officer | Award | 11,250 | $0 |
| Apr 7, 2026 | Cornell Brian C Executive Officer | Award | 50,777 | $0 |
| Apr 7, 2026 | Vemana Pratabkumar Executive Officer | Tax withheld | 1,166 | $140.8K |
| Apr 7, 2026 | ROATH LISA R Executive Officer | Tax withheld | 751 | $90.7K |
| Apr 7, 2026 | ROATH LISA R Executive Officer | Award | 2,443 | $0 |
| Apr 7, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Tax withheld | 411 | $49.6K |
| Apr 7, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Award | 1,337 | $0 |
| Apr 7, 2026 | Kremer Melissa K Executive Officer | Tax withheld | 3,088 | $372.9K |
| Apr 7, 2026 | Vemana Pratabkumar Executive Officer | Award | 3,634 | $0 |
| Apr 7, 2026 | Kremer Melissa K Executive Officer | Award | 7,259 | $0 |
| Apr 7, 2026 | Cornell Brian C Executive Officer | Tax withheld | 21,697 | $2.62M |
| Apr 7, 2026 | SYLVESTER CARA A Executive Officer | Tax withheld | 1,983 | $239.5K |
| Apr 7, 2026 | SYLVESTER CARA A Executive Officer | Award | 5,809 | $0 |
| Apr 1, 2026 | Bratspies Stephen B Director | Award | 1,791 | $0 |
| Mar 17, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Sale | 2,053 | $240.6K |
| Mar 13, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Tax withheld | 371 | $43.3K |
| Mar 13, 2026 | Vemana Pratabkumar Executive Officer | Tax withheld | 199 | $23.2K |
| Mar 13, 2026 | ROATH LISA R Executive Officer | Tax withheld | 203 | $23.7K |
| Mar 12, 2026 | LIEGEL MATTHEW A Chief Accounting Officer | Tax withheld | 246 | $28.7K |
| Mar 11, 2026 | SYLVESTER CARA A Executive Officer | Award | 8,799 | $0 |
| Mar 11, 2026 | SYLVESTER CARA A Executive Officer | Award | 16,759 | $0 |
| Mar 11, 2026 | FIDDELKE MICHAEL J Executive Officer | Tax withheld | 1,952 | $234.0K |
| Mar 11, 2026 | BAKER DOUGLAS M JR Director | Award | 1,676 | $0 |
| Mar 11, 2026 | Kremer Melissa K Executive Officer | Tax withheld | 1,260 | $151.0K |
| Mar 11, 2026 | Kremer Melissa K Executive Officer | Award | 7,794 | $0 |
| Mar 11, 2026 | Kremer Melissa K Executive Officer | Award | 16,759 | $0 |
| Mar 11, 2026 | Whiteford Grace Puma Director | Award | 1,676 | $0 |
| Mar 11, 2026 | STOCKTON DMITRI L Director | Award | 2,891 | $0 |
| Mar 11, 2026 | Barrett George S Director | Award | 2,891 | $0 |
| Mar 11, 2026 | Rice Derica W Director | Award | 2,682 | $0 |
| Mar 11, 2026 | Hoke John R III Director | Award | 1,956 | $0 |
| Mar 11, 2026 | FIDDELKE MICHAEL J Executive Officer | Award | 30,418 | $0 |
| Mar 11, 2026 | Cornell Brian C Executive Officer | Tax withheld | 11,050 | $1.32M |
| Mar 11, 2026 | Cornell Brian C Executive Officer | Award | 50,277 | $0 |
| Mar 11, 2026 | BOUDREAUX GAIL Director | Award | 2,682 | $0 |
| Mar 11, 2026 | KNAUSS DONALD R Director | Award | 1,676 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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