Financial Data and Key Metrics Changes - In Q3, net sales were down 1.5% year-over-year, slightly better than year-to-date performance but about 60 basis points softer than Q2 [38] - Q3 GAAP EPS was $1.51 compared to $1.85 a year ago, while adjusted EPS was $1.78, about 4% lower than the previous year [42] - Gross margin rate for Q3 was 28.2%, about 10 basis points lower than last year, with pressures from higher markdowns offset by lower inventory shrink [40][41] Business Line Data and Key Metrics Changes - Comp sales in Q3 were down 2.7%, reflecting softness in discretionary categories like home and apparel, partially offset by growth in food and beverage and Fun 101 [28] - Digital comparable sales grew 2.4%, driven by over 35% growth in same-day delivery [28] - Fun 101 saw nearly 10% comp growth in toys and double-digit growth in music and video games, indicating positive consumer response to unique assortments [28][30] Market Data and Key Metrics Changes - Consumer sentiment is at a three-year low, with concerns about jobs and affordability impacting spending behavior [31] - Despite cautious consumer sentiment, there is a strong demand for trend-right deals in discretionary categories [31] - The company is experiencing volatility in sales patterns, with net sales close to flat in August and October but down about 4% in September [40] Company Strategy and Development Direction - The company is focused on three priorities: solidifying design-led merchandising authority, enhancing the shopping experience, and leveraging technology for efficiency [9][10] - Plans for next year include increasing capital expenditures to about $5 billion, which is $1 billion more than the current year, to support store experience and remodel programs [24][48] - The company aims to transform its in-store shopping experience and assortment, with plans for more changes than in any year in the past decade [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the business has not been performing up to its potential and is focused on supporting the leadership team to enhance merchandising authority and retail experience [7][9] - The company is committed to making the right investments to achieve desired outcomes in merchandising and guest experience [57] - Management expresses confidence in the company's direction and the steps being taken to return to sustainable growth [48][51] Other Important Information - The company has eliminated approximately 1,800 roles at headquarters to enhance agility and decision-making [10] - The company is investing in technology to improve speed and guest experience, including AI-enabled consumer insights and machine learning for inventory management [13][18] Q&A Session Summary Question: Can we rule out a reset of margin during this investment phase? - Management is focused on making the right investments to achieve desired outcomes and is committed to finding efficiencies within the business [56][58] Question: What are the most urgent gaps and capabilities? - Management is excited about the momentum in FUN 101 and the focus on creating a consistently elevated experience, with ongoing improvements in stock availability [61][62] Question: How do you think about the key areas for investment with the $5 billion CapEx? - Investments will focus on stores, remodels, and technology, with a strong new store pipeline and ongoing store refreshes to enhance the guest experience [70][74]

Financial Data and Key Metrics Changes - In Q3, net sales were down 1.5% year-over-year, slightly better than year-to-date performance but about 60 basis points softer than Q2 [38] - Q3 GAAP EPS was $1.51 compared to $1.85 a year ago, while adjusted EPS was $1.78, about 4% lower than the previous year [42] - Gross margin rate for Q3 was 28.2%, about 10 basis points lower than last year, with pressures from higher markdowns offset by lower inventory shrink [40][41] Business Line Data and Key Metrics Changes - Comparable sales in Q3 were down 2.7%, with growth in food and beverage and Fun 101 partially offsetting declines in discretionary categories like home and apparel [28] - Digital comparable sales grew 2.4%, driven by over 35% growth in same-day delivery [28] - Fun 101 saw nearly 10% comp growth in toys and double-digit growth in music and video games, indicating strong performance in categories with unique assortments [28][30] Market Data and Key Metrics Changes - Consumer sentiment is at a three-year low, with concerns about jobs and affordability impacting spending behavior [31] - The company noted that guests are prioritizing value and spending more on essentials while looking for deals in discretionary categories [31] Company Strategy and Development Direction - The company is focused on three priorities: solidifying design-led merchandising authority, enhancing the shopping experience, and leveraging technology for efficiency [9][10] - Plans for next year include increasing capital expenditures to about $5 billion, which is $1 billion more than the current year, to support store experience and remodel programs [24][48] - The company is modernizing its cross-functional teams to improve decision-making and speed in product offerings [64][75] Management's Comments on Operating Environment and Future Outlook - Management expressed that they are not satisfied with current results and are committed to driving change to return to sustainable growth [49][80] - The company is actively addressing challenges in the external environment and is focused on making necessary investments to improve performance [47][48] Other Important Information - The company has eliminated approximately 1,800 roles at headquarters to streamline operations and enhance agility [10] - The upcoming financial community meeting will take place in Minneapolis on March 3rd, providing insights into the company's evolution and strategy [53] Q&A Session Summary Question: Can we rule out a reset of margin during this investment phase? - Management indicated that they are committed to making the right investments to achieve desired outcomes, focusing on efficiency and experience improvements [57][59] Question: What are the most urgent gaps and capabilities? - Management highlighted the importance of merchandising authority and the positive response seen in categories like FUN 101, indicating a focus on elevating the guest experience [61][62] Question: How does the company view the $5 billion CapEx investment? - The company sees this investment as crucial for driving growth, particularly in new stores and remodels, while also emphasizing the importance of technology [70][75]

Accessibility StatementSkip Navigation Target's new app experience in ChatGPT will stand out by offering curated browsing, multi-item purchases in a single transaction, fresh food shopping and multiple fulfillment options MINNEAPOLIS, Nov. 19, 2025 /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced that consumers will be able to discover and shop Target right inside ChatGPT, part of an effort to reimagine AI- powered shopping as a curated, conversational experience — and just in time for holiday ...

Financial Data and Key Metrics Changes - Third-quarter net sales decreased by 1.5% compared to the previous year, slightly better than year-to-date performance but about 60 basis points softer than Q2 [35] - GAAP EPS for Q3 was $1.51, down from $1.85 a year ago, while adjusted EPS was $1.78, approximately 4% lower than the previous year [40] - Gross margin rate for Q3 was 28.2%, about 10 basis points lower than last year, with pressures from higher markdowns offset by lower inventory shrink [38][39] Business Line Data and Key Metrics Changes - Comparable sales in discretionary categories like home and apparel were down 2.7%, while food and beverage saw growth, particularly in beverages, which were up nearly 7% [26][27] - Digital comparable sales grew by 2.4%, driven by over 35% growth in same-day delivery [26] - The FUN 101 category delivered strong performance, with nearly 10% comp growth in toys and double-digit growth in music and video games [26] Market Data and Key Metrics Changes - Consumer sentiment is at a three-year low, with concerns about jobs and affordability impacting spending behavior [28] - The company is experiencing volatility in sales, with net sales close to flat in August and October but down about 4% in September [38] - The company is reaching around 80% of the U.S. population with same-day delivery, with sales growing more than 35% in this segment [21] Company Strategy and Development Direction - The company is focused on three priorities: solidifying design-led merchandising authority, enhancing the shopping experience, and leveraging technology for efficiency [9][10] - Plans for next year include increasing capital expenditures to about $5 billion, which is $1 billion more than the current year, to support store experience and remodel programs [23][45] - The company is committed to making investments that drive growth, particularly in technology and store experience [64] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the business has not been performing up to its potential and is focused on returning to sustainable growth [6][9] - The company is actively making changes to improve merchandising authority and guest experience, with a strong emphasis on technology [10][48] - Management expresses confidence in the company's direction and the steps being taken to navigate the current challenging environment [46][49] Other Important Information - The company has eliminated approximately 1,800 roles at headquarters, about 8% of its footprint, to enhance agility and decision-making [10] - The company is introducing 20,000 new items into its holiday assortment, twice as many as last year, with over half exclusive to Target [33] Q&A Session Summary Question: Can we rule out a reset of margin during this investment phase? - Management is committed to making the right investments to achieve desired outcomes in merchandising authority and guest experience [51] Question: What are the most urgent gaps and capabilities? - Management is excited about the momentum in categories like FUN 101 and the focus on creating a consistently elevated experience [55] Question: How does the company view the $5 billion CapEx investment? - Investments will focus on areas that drive growth, including new stores, remodels, and technology enhancements [60][64] Question: How is the company addressing the need for change? - Management emphasizes the importance of driving change to achieve different outcomes and is focused on clear priorities [66]

Target (TGT) came out with quarterly earnings of $1.78 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.14%. A quarter ago, it was expected that this retailer would post earnings of $2.09 per share when it actually produced earnings of $2.05, delivering a surprise of -1.91%.Over the last four quarters, the company has surpa ...

This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. Dive Brief: Target will invest in revamped store operations and new technology as it makes CX a priority in its pursuit of sales growth, COO and incoming CEO Michael Fiddelke said on a Q3 2025 earnings call Wednesday. The retailer is reducing the time spent on backroom tasks to let associates spend more time with customers, improving in-stock rates for top items, and reco ...

Target Corporation (NYSE:TGT) stock slipped in early trading on Thursday as the retailer reported a third-quarter profit beat but posted underwhelming sales and trimmed its full-year earnings outlook heading into the crucial holiday stretch.At the same time, the big-box chain is leaning into an attention-grabbing artificial intelligence push, wiring its aisles into ChatGPT through an expanded OpenAI partnership.The company reported third-quarter adjusted earnings per share of $1.78, beating the analyst cons ...

智通财经APP获悉，塔吉特(TGT.US)公布了第三季度财务业绩。该公司第三季度的盈利超过了分析师预 测的平均值，但关键的零售指标——同店销售额的增幅却低于预期。Q3营收同比下降1.4%至253亿美 元，与预期一致。非GAAP每股收益为1.78美元，高于预期。三季度同店销售额下降 2.7%，不及市场预 期的下降 2.1%的水平。 Q3营业利润下降了 18.9%，至 9 亿美元。若不计入一次性项目，营业利润为 11 亿美元。塔吉特的毛利 率下降了 10 个基点至 28.2%，这反映出由于降价幅度扩大而带来的商品销售压力，但这一压力部分被 广告及其他收入的增长、库存损失的降低以及供应链和数字配送效率的提升所抵消。 展望未来，塔吉特下调了 2025 年的利润预期，这表明其扭亏为盈的努力将需要更多时间，这家大型零 售企业正面临着商品降价以及关键商品领域需求疲软的局面。该公司目前预计，剔除某些项目后，今年 每股收益将在 7 美元至 8 美元之间，此前指引为7美元至9美元。 塔吉特在三季度回购了 1.52 亿美元股票，以平均每股 91.59 美元的价格注销了 170 万股普通股。截至三 季度末，塔吉特在 2021 年 8 ...

Today, retail giant Target Corporation (NYSE: TGT) reported its third-quarter fiscal 2025 earnings. Unfortunately, for the company and its investors, the results were a continuation of what Target has been seeing for years now: declining sales. Most Read from Fast Company Here’s what you need to know about Target’s Q3 and the impact the earnings are having on the company’s stock price today. Target’s Q3 2025 at a glance Here’s what the big box retailer reported for its Q3 2025: Net sales: $25.3 billio ...

Net sales were 1.5% lower than 2024, and comparable sales declined 2.7%. Bottom line results Home / News & Features COMPANY Q3 2025 Results and Positioning Target for Its Next Chapter of Growth Nov 19, 2025| 5-minute read Copy link to share C- This morning, Target announced our third quarter 2025 earnings. Check out the full results and read on for a snapshot. Q3 2025 results were in line with our expectations Topline sales Adjusted EPS* of $1.78 was about 4% lower than last year, and GAAP EPS was $1.51. Gr ...