Overview

• Target posted Q2 adjusted EPS of $2.05 on revenue of $25.21 billion, topping LSEG estimates but falling year over year.
• Net sales declined 0.9% with comparable sales down 1.9%, and net income fell to $935 million from $1.19 billion a year earlier.
• The company reiterated fiscal 2025 guidance for adjusted EPS of $7.00–$9.00 and projected a low-single-digit decline in sales.
• Brian Cornell will step down as CEO, with Michael Fiddelke set to take the role on February 1, 2026.
• Shares dropped nearly 10% in early trading, fell below $100, and traded near $97 on Thursday; Cornell flagged tariff-related pressure on this year’s P&L as analysts adjusted price targets with mixed changes.