Every 10-Q that Target Corporation (TGT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TGT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TGT filings page.
Target Corporation (TGT) reported strong second-quarter 2026 results with significant help from one-time tariff refunds. Net sales were $26.5 billion, up 5.3% year over year, driven by a 3.8% comparable sales increase (traffic up 3.6%, average ticket up 0.2%), contributions from new stores, and 20.1% growth in non‑merchandise sales led by the Roundel digital advertising business.
Operating income rose to $2.6 billion from $1.3 billion, a 94.4% increase, including $994 million of IEEPA tariff refunds recorded as lower cost of sales; excluding these refunds, operating income growth was about 19%. Diluted EPS was $4.11, up 100.3%, including $1.65 of after‑tax tariff‑refund benefit. Year‑to‑date, net sales grew 6.0% to $52.0 billion and diluted EPS rose to $5.83.
Gross margin rate improved to 33.7% from 29.0%, reflecting tariff refunds, better merchandising and lower markdowns, and growth in advertising and other revenues, while SG&A rate ticked up to 21.6%. Operating cash flow increased to $4.5 billion for the first half, supporting higher capital spending, $2.28 per‑share dividends, and a strong cash balance of $5.4 billion. Target ended the quarter with 2,019 stores, long‑term debt (including current portion) of $13.4 billion, investment‑grade ratings (Moody’s A2, S&P A), a new $4.0 billion revolving credit facility with no borrowings outstanding, and trailing 12‑month after‑tax ROIC of 15.4%, boosted by tariff refunds.
Target Corporation reported first-quarter 2026 results showing solid underlying growth. Net sales reached $25.4 billion, up 6.7% from a year earlier, driven by a 5.6% comparable sales increase, which reflected higher store traffic and a modest rise in average transaction amount. Non‑merchandise sales grew 24.6%, led by the Roundel digital advertising business.
GAAP operating income was $1.1 billion, down 22.9% due to prior‑year gains from interchange fee settlements, but adjusted operating income rose 29.1% to $1.1 billion. GAAP and adjusted diluted EPS were both $1.71, compared with GAAP EPS of $2.27 and adjusted EPS of $1.30 a year earlier. Cash from operating activities improved to $0.7 billion, Target repaid $1.0 billion of unsecured debt, paid $516 million in dividends, and did not repurchase shares in the quarter.
Target Corporation reported softer results for the quarter ended November 1, 2025. GAAP diluted EPS was $1.51, down from $1.85 a year ago, while Adjusted EPS was $1.78. Net sales were $25.3 billion, a 1.5% decline, as comparable sales fell 2.7%, driven by a 2.2% drop in traffic and a slightly lower average ticket. Operating income was $0.9 billion, down 18.9%, with the quarter including $161 million of business transformation costs, mainly $115 million of headquarters severance and $46 million of asset-related charges.
Year-to-date net earnings were $2.66 billion versus $2.99 billion in 2024, and after-tax ROIC declined to 13.4% from 15.9%. Gross margin rate edged down to 28.2%, pressured by higher markdowns, partly offset by lower inventory shrink and growth in advertising and other revenues. Target maintained strong liquidity with $3.8 billion in cash and cash equivalents, invested $2.8 billion in capital expenditures, repurchased $403 million of stock, and paid $1.5 billion in dividends over the first nine months of 2025.
Target Corporation reported mixed second-quarter results. GAAP diluted earnings per share and Adjusted EPS were $2.05. Net sales were $25.2 billion, down 0.9% year-over-year, with comparable sales down 1.9% driven by a 1.3% decline in traffic and a 0.6% decline in average transaction amount. Comparable stores-originated sales declined 3.2% while comparable digitally-originated sales increased 4.3%.
Operating income was $1.3 billion, 19.4% lower than the prior-year period. The company recognized a $593 million net gain within SG&A from interchange fee settlements. Trailing twelve-month after-tax ROIC was 14.3% versus 16.6% a year earlier. Cash and cash equivalents totaled $4.3 billion, inventory was $12.9 billion, and share repurchases totaled $251 million year-to-date.