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Target shares jump after retailer lifts full-year outlook

Target now expects net sales to rise about 5% for its fiscal year ending in early 2027, and its quarterly results beat Wall Street expectations.

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Target shares rose more than 6% on Wednesday after the U.S. retailer raised its full-year outlook and reported quarterly results that exceeded Wall Street expectations, signaling possible progress after years of declining revenue, LiveMint Markets reported, citing Reuters.

The company said it now expects net sales to increase about 5% in the fiscal year that ends in early 2027, a guidance increase of one percentage point versus its prior forecast. Target also lifted its adjusted earnings outlook after second-quarter sales came in ahead of analysts' expectations.

In its quarterly performance, comparable sales, which include stores and digital operations open for at least a year, grew 3.8% in the quarter ended August 1, helped by higher customer traffic. Adjusted earnings per share also topped the average analyst estimate, with part of the outperformance attributed to refunds related to tariffs.

Target CEO Michael Fiddelke said the company is encouraged by progress so far while staying focused on the work still ahead. The retailer is pursuing a turnaround strategy built around refreshing merchandise, upgrading technology, and improving the shopping experience, with Target shares up 56% in 2026 through Tuesday’s close compared with the S&P 500’s more than fourfold gain over the same period.

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