Target Corporation reported its second straight quarter of comparable sales gains, with a $994 million tariff refund contributing meaningfully to a profit beat, after the US Supreme Court ruled that President Trump overstepped his authority in imposing the tariffs. Comparable sales grew 3.8%, beating the 2.5% estimate, driven by a 3.6% rise in store visits and an 8.7% jump in online sales. The company raised its yearly sales forecast for the second time this year to about 5% from 4%, and shares have jumped over 57% in 2026. However, the nearly $1 billion refund is a one-time boost that will make next year's comparisons harder, and growth in clothes and home goods remained weak. Walmart also booked nearly $2.9 billion in similar refunds this quarter, indicating a temporary sector-wide benefit.
Target CorporationNearly $1 billion tariff refund boosts profit and sales forecast raised
Walmart Inc.Booked nearly $2.9 billion in similar tariff refunds, benefiting earnings
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