Target(TGT)2025-05-21 11:02Financial Performance - First quarter 2025 GAAP earnings per share (EPS) was 2.03 in 2024, while adjusted EPS was 23.8 billion, a decrease of 2.8% compared to 1.5 billion, reflecting a 13.6% increase from the previous year[7]. - The first quarter gross margin rate was 28.2%, down from 28.8% in 2024, due to higher markdown rates and increased digital fulfillment costs[9]. - Adjusted diluted earnings per share (EPS) for the three months ended May 3, 2025, was 2.03 for the same period in 2024[30]. - Net earnings for the three months ended May 3, 2025, were 942 million for the same period in 2024[31]. - EBIT for the three months ended May 3, 2025, was 1,325 million for the same period in 2024[31]. - After-tax return on invested capital (ROIC) for the trailing twelve months ended May 3, 2025, was 15.1%, down from 15.4% for the same period in 2024[34]. Sales and Guidance - The company expects a low-single digit decline in sales for fiscal 2025, with GAAP EPS guidance of 10.00 and adjusted EPS of approximately 9.00[6]. - The company provided full-year 2025 GAAP diluted EPS guidance of approximately 10.00, with adjusted diluted EPS guidance of 9.00[30]. - Net sales for the three months ended May 3, 2025, were 24,531 million for the same period in 2024[23]. - Comparable sales decreased by 3.8% for the three months ended May 3, 2025, compared to a decrease of 3.7% for the same period in 2024[27]. - Digitally originated comparable sales increased by 4.7% for the three months ended May 3, 2025, compared to an increase of 1.4% for the same period in 2024[27]. Shareholder Returns - Target paid dividends of 508 million in the previous year[11]. - The company repurchased 114.60[12]. Strategic Initiatives - The company established a multi-year acceleration office to enhance decision-making speed and support growth initiatives[5]. - Digital comparable sales growth was driven by a 36% increase in same-day delivery through Target Circle 360[5].