1Lun·

Target Q2'25 Earnings Highlights

$TGT (-0,76 %)


🔹 Revenue: $25.21B (Est. $24.90B) 🟢; -0.9% YoY

🔹 EPS: $2.05 (Est. $2.04) 🟢; -20% YoY

🔹 Comp Sales: -1.9% YoY

🔹 Michael Fiddelke (current COO) named CEO effective Feb 1, 2026


FY25 Guide

🔹 Adj EPS: ~$7.00–$9.00 (Est. $7.34) 😕

🔹 Sales: Low-single-digit decline (Est. -1.71%)


Segment:

🔹 Apparel & Accessories: $4.09B; DOWN -4% YoY

🔹 Beauty: $3.40B; FLAT YoY

🔹 Food & Beverage: $5.59B; UP +1% YoY

🔹 Hardlines: $3.52B; UP +6% YoY

🔹 Home Furnishings & Décor: $3.66B; DOWN -6% YoY

🔹 Household Essentials: $4.42B; DOWN -3% YoY

🔹 Non-Merchandise Sales: UP +14% YoY (Roundel, Membership, Marketplace)


Other Metrics

🔹 Stores comps: -3.2% YoY

🔹 Digital comps: +4.3% YoY

🔹 Operating Income: $1.3B; DOWN -19% YoY

🔹 Net Income: $935M; DOWN -21% YoY

🔹 Gross Margin: 29.0% (vs. 30.0% LY)

🔹 Operating Margin: 5.2% (vs. 6.4% LY)

🔹 Dividend Paid: $509M (+1.8% per share YoY)

🔹 Share Buybacks: None; $8.4B capacity remaining

🔹 After-Tax ROIC: 14.3% (vs. 16.6% LY)


CEO Transition

🔹 Michael Fiddelke (current COO) named CEO effective Feb 1, 2026

🔹 Brian Cornell to transition to Executive Chair


Commentary

🔸 CEO Brian Cornell: “Q2 showed encouraging signs of recovery, including improved traffic and sales trends — particularly in stores — and disciplined cost management in a challenging retail environment.”

🔸 Lead Independent Director Christine Leahy: “It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company’s strategy.”

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The numbers weren't that bad... I think the market was hoping for a CEO from the outside. That's why it's going down .
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