Target Corp. reported second-quarter adjusted earnings per share of $4.11, double the year-ago figure, but a one-time tariff refund accounted for $1.65 of that amount. Comparable sales rose 3.8% on a 3.6% increase in foot traffic, while digital sales climbed 8.7% and net sales reached $26.5 billion. Management raised full-year sales guidance to about 5% growth and lifted its earnings per share outlook to a range of $9.90 to $10.90. However, excluding the refund, adjusted earnings per share grew only about 20%, and SG&A expenses rose to 21.6% of sales from 21.3%. Executives acknowledged that home and apparel sales still lag and that store-level execution will require years of work.
Target CorporationQ2 EPS beat and raised guidance, though tariff refund skews earnings.
