Target Corporation (TGT) Q2 FY2026 Financial Statements: Revenue $26.54B, Net earnings $1.88B
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PeriodQ2 FY2026
Published
Target reported $26.54 billion in net sales for Q2 FY2026, the quarter ended August 1, 2026, up 5.3% from a year earlier, as comparable sales rose 3.8% after falling 1.9% in the same quarter of the prior year. Net earnings were $1.88 billion, up 100.7%, and diluted earnings per share were $4.11 against $2.05. Most of that earnings gain came from refunds of tariffs paid under the International Emergency Economic Powers Act, which Target received in the quarter and recorded as a $994 million pretax reduction of cost of sales; excluding them, earnings per share still rose from a year earlier.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $26,539,000,000 | up 5.3% |
| Net earnings | $1,877,000,000 | up 100.7% |
| Diluted EPS | $4.11 | up 100.5% |
| Comparable sales change | 3.8% | up 5.7 points |
| Tariff refunds | $994,000,000 |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | TGT |
|---|---|
| CIK | 0000027419 |
| Company | Target Corporation |
| Business type | retail |
| Schema template | standard retailer (net sales / cost of sales / gross margin / SG&A / operating income / net earnings; balance sheet; cash flow; net sales by merchandise category) |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); per-share amounts in dollars; share counts in actual shares; percentages as printed |
TGT annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Period start | 2025-02-02 | 2024-02-04 | 2023-01-29 |
| Period end | 2026-01-31 | 2025-02-01 | 2024-02-03 |
| Period type | fiscal year | fiscal year | fiscal year |
| Fiscal year weeks | 52 | 52 | 53 |
| Source accession | 10-K | 10-K | 10-K |
| Income statement | |||
| Net sales | 104,780,000,000 | 106,566,000,000 | 107,412,000,000 |
| Cost of sales | 75,511,000,000 | 76,502,000,000 | 77,828,000,000 |
| Selling general and administrative | 21,535,000,000 | 21,969,000,000 | 21,462,000,000 |
| Depreciation and amortization | 2,617,000,000 | 2,529,000,000 | 2,415,000,000 |
| Operating income | 5,117,000,000 | 5,566,000,000 | 5,707,000,000 |
| Net interest expense | 445,000,000 | 411,000,000 | 502,000,000 |
| Net other expense income | -95,000,000 | -106,000,000 | -92,000,000 |
| Earnings before income taxes | 4,767,000,000 | 5,261,000,000 | 5,297,000,000 |
| Provision for income taxes | 1,062,000,000 | 1,170,000,000 | 1,159,000,000 |
| Net earnings | 3,705,000,000 | 4,091,000,000 | 4,138,000,000 |
| Basic EPS | 8.16 | 8.89 | 8.96 |
| Diluted EPS | 8.13 | 8.86 | 8.94 |
| Basic shares | 454,100,000 | 460,400,000 | 461,500,000 |
| Diluted shares | 455,600,000 | 461,800,000 | 462,800,000 |
| Gross margin | 29,269,000,000 | 30,064,000,000 | 29,584,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 5,488,000,000 | 4,762,000,000 | |
| Inventory | 12,304,000,000 | 12,740,000,000 | |
| Other current assets | 2,213,000,000 | 1,952,000,000 | |
| Total current assets | 20,005,000,000 | 19,454,000,000 | |
| Property and equipment net | 33,749,000,000 | 33,022,000,000 | |
| Operating lease assets | 3,703,000,000 | 3,763,000,000 | |
| Other noncurrent assets | 2,033,000,000 | 1,530,000,000 | |
| Total assets | 59,490,000,000 | 57,769,000,000 | |
| Accounts payable | 12,622,000,000 | 13,053,000,000 | |
| Accrued and other current liabilities | 6,478,000,000 | 6,110,000,000 | |
| Current portion of long term debt and other borrowings | 2,130,000,000 | 1,636,000,000 | |
| Total current liabilities | 21,230,000,000 | 20,799,000,000 | |
| Long term debt and other borrowings | 14,326,000,000 | 14,304,000,000 | |
| Noncurrent operating lease liabilities | 3,462,000,000 | 3,582,000,000 | |
| Deferred income taxes | 2,265,000,000 | 2,303,000,000 | |
| Other noncurrent liabilities | 2,042,000,000 | 2,115,000,000 | |
| Total noncurrent liabilities | 22,095,000,000 | 22,304,000,000 | |
| Common stock | 38,000,000 | 38,000,000 | |
| Additional paid in capital | 7,247,000,000 | 6,996,000,000 | |
| Retained earnings | 9,297,000,000 | 8,090,000,000 | |
| Accumulated other comprehensive loss | -417,000,000 | -458,000,000 | |
| Total shareholders equity | 16,165,000,000 | 14,666,000,000 | |
| Total liabilities | 43,325,000,000 | 43,103,000,000 | |
| Total debt | 16,456,000,000 | 15,940,000,000 | |
| Shares outstanding | 452,840,187 | 455,566,995 | |
| Cash flow | |||
| Depreciation and amortization | 3,134,000,000 | 2,981,000,000 | 2,801,000,000 |
| Share based compensation expense | 281,000,000 | 304,000,000 | 251,000,000 |
| Net cash provided by operating activities | 6,562,000,000 | 7,367,000,000 | 8,621,000,000 |
| Capital expenditures | -3,727,000,000 | -2,891,000,000 | -4,806,000,000 |
| Net cash used in investing activities | -3,649,000,000 | -2,860,000,000 | -4,760,000,000 |
| Additions to long term debt | 1,984,000,000 | 741,000,000 | 0 |
| Reductions of long term debt | -1,643,000,000 | -1,139,000,000 | -147,000,000 |
| Dividends paid | -2,053,000,000 | -2,046,000,000 | -2,011,000,000 |
| Repurchase of stock | -408,000,000 | -1,007,000,000 | 0 |
| Shares withheld for taxes on share based compensation | -67,000,000 | -99,000,000 | -127,000,000 |
| Net cash used in financing activities | -2,187,000,000 | -3,550,000,000 | -2,285,000,000 |
| Net change in cash and cash equivalents | 726,000,000 | 957,000,000 | 1,576,000,000 |
| Free cash flow | 2,835,000,000 | 4,476,000,000 | 3,815,000,000 |
| Net sales by category | |||
| Apparel and accessories | 15,737,000,000 | 16,505,000,000 | 16,485,000,000 |
| Beauty | 13,214,000,000 | 13,173,000,000 | 12,538,000,000 |
| Food and beverage | 24,136,000,000 | 23,828,000,000 | 23,899,000,000 |
| Hardlines | 15,800,000,000 | 15,784,000,000 | 16,162,000,000 |
| Home furnishings and decor | 15,608,000,000 | 16,699,000,000 | 17,760,000,000 |
| Household essentials | 18,017,000,000 | 18,614,000,000 | 18,746,000,000 |
| Other merchandise sales | 205,000,000 | 217,000,000 | 213,000,000 |
| Merchandise sales | 102,717,000,000 | 104,820,000,000 | 105,803,000,000 |
| Advertising revenue | 915,000,000 | 649,000,000 | 522,000,000 |
| Credit card profit sharing | 522,000,000 | 576,000,000 | 667,000,000 |
| Other revenue | 626,000,000 | 521,000,000 | 420,000,000 |
| Operating metrics | |||
| Comparable sales change percent | -2.6 | 0.1 | -3.7 |
| Comparable traffic change percent | -2.2 | 1.4 | -2.4 |
| Average transaction amount change percent | -0.4 | -1.3 | -1.4 |
| Shareholder returns | |||
| Dividends declared per share | 4.54 | 4.46 | 4.38 |
| Cash dividends declared | 2,095,000,000 | 2,080,000,000 | 2,050,000,000 |
| Notable items | |||
| Interchange fee settlement net gains in sga | 593,000,000 | ||
| Business transformation costs | 250,000,000 | ||
TGT quarterly income statement, balance sheet and cash flow
| Q2 FY2026 | Q2 FY2025 | |
|---|---|---|
| Fiscal quarter | 2 | 2 |
| Period start | 2026-05-03 | 2025-05-04 |
| Period end | 2026-08-01 | 2025-08-02 |
| Period type | three months | three months |
| Source accession | 10-Q | 10-Q |
| Cash flow source accession | 10-Q | 10-Q |
| Cash flow also sourced from accession | 0000027419-26-000020 | 0000027419-26-000020 |
| Income statement | ||
| Net sales | 26,539,000,000 | 25,211,000,000 |
| Cost of sales | 17,603,000,000 | 17,903,000,000 |
| Selling general and administrative | 5,725,000,000 | 5,359,000,000 |
| Depreciation and amortization | 651,000,000 | 632,000,000 |
| Operating income | 2,560,000,000 | 1,317,000,000 |
| Net interest expense | 98,000,000 | 116,000,000 |
| Net other expense income | 3,000,000 | -17,000,000 |
| Earnings before income taxes | 2,459,000,000 | 1,218,000,000 |
| Provision for income taxes | 582,000,000 | 283,000,000 |
| Net earnings | 1,877,000,000 | 935,000,000 |
| Basic EPS | 4.13 | 2.06 |
| Diluted EPS | 4.11 | 2.05 |
| Basic shares | 454,400,000 | 454,600,000 |
| Diluted shares | 456,600,000 | 455,600,000 |
| Gross margin | 8,936,000,000 | 7,308,000,000 |
| Balance sheet | ||
| Cash and cash equivalents | 5,411,000,000 | 4,341,000,000 |
| Inventory | 13,249,000,000 | 12,881,000,000 |
| Other current assets | 2,268,000,000 | 1,812,000,000 |
| Total current assets | 20,928,000,000 | 19,034,000,000 |
| Property and equipment net | 34,767,000,000 | 33,568,000,000 |
| Operating lease assets | 3,587,000,000 | 3,694,000,000 |
| Other noncurrent assets | 1,953,000,000 | 1,555,000,000 |
| Total assets | 61,235,000,000 | 57,851,000,000 |
| Accounts payable | 13,306,000,000 | 12,019,000,000 |
| Accrued and other current liabilities | 6,738,000,000 | 6,068,000,000 |
| Current portion of long term debt and other borrowings | 1,136,000,000 | 1,136,000,000 |
| Total current liabilities | 21,180,000,000 | 19,223,000,000 |
| Long term debt and other borrowings | 14,221,000,000 | 15,320,000,000 |
| Noncurrent operating lease liabilities | 3,332,000,000 | 3,514,000,000 |
| Deferred income taxes | 2,504,000,000 | 2,413,000,000 |
| Other noncurrent liabilities | 2,155,000,000 | 1,961,000,000 |
| Total noncurrent liabilities | 22,212,000,000 | 23,208,000,000 |
| Common stock | 38,000,000 | 38,000,000 |
| Additional paid in capital | 7,329,000,000 | 7,084,000,000 |
| Retained earnings | 10,890,000,000 | 8,766,000,000 |
| Accumulated other comprehensive loss | -414,000,000 | -468,000,000 |
| Total shareholders equity | 17,843,000,000 | 15,420,000,000 |
| Total liabilities | 43,392,000,000 | 42,431,000,000 |
| Total debt | 15,357,000,000 | 16,456,000,000 |
| Shares outstanding | 454,291,461 | 454,396,092 |
| Cash flow | ||
| Net cash provided by operating activities | 3,803,000,000 | 2,083,000,000 |
| Capital expenditures | -1,369,000,000 | -1,074,000,000 |
| Free cash flow | 2,434,000,000 | 1,009,000,000 |
| Dividends paid | -518,000,000 | -509,000,000 |
| Net sales by category | ||
| Apparel and accessories | 4,090,000,000 | 4,086,000,000 |
| Beauty | 3,639,000,000 | 3,396,000,000 |
| Food and beverage | 5,991,000,000 | 5,588,000,000 |
| Hardlines | 3,894,000,000 | 3,522,000,000 |
| Home furnishings and decor | 3,668,000,000 | 3,662,000,000 |
| Household essentials | 4,617,000,000 | 4,422,000,000 |
| Other merchandise sales | 48,000,000 | 43,000,000 |
| Merchandise sales | 25,947,000,000 | 24,719,000,000 |
| Advertising revenue | 279,000,000 | 217,000,000 |
| Credit card profit sharing | 139,000,000 | 134,000,000 |
| Other revenue | 174,000,000 | 141,000,000 |
| Operating metrics | ||
| Comparable sales change percent | 3.8 | -1.9 |
| Comparable traffic change percent | 3.6 | -1.3 |
| Average transaction amount change percent | 0.2 | -0.6 |
| Store count | 2,019 | 1,982 |
| Retail square feet | 253,826,000 | 248,705,000 |
| Shareholder returns | ||
| Dividends declared per share | 1.16 | 1.14 |
| Cash dividends declared | 539,000,000 | 529,000,000 |
| Notable items | ||
| Tariff refunds recognized as reduction of cost of sales | 994,000,000 | |
- Cash flow derivation, Q2 FY2026. six months ended August 1, 2026 in the Form 10-Q (accession 0000027419-26-000042) less the three months ended May 2, 2026 in the first-quarter earnings release furnished on Form 8-K (accession 0000027419-26-000020, Exhibit 99)
- Cash flow derivation, Q2 FY2025. six months ended August 2, 2025 in the Form 10-Q (accession 0000027419-26-000042) less the three months ended May 3, 2025 as presented in the first-quarter 2026 earnings release furnished on Form 8-K (accession 0000027419-26-000020, Exhibit 99)
TGT year-to-date income statement and cash flow
| H1 FY2026 (six months ended August 1, 2026) | H1 FY2025 (six months ended August 2, 2025) | |
|---|---|---|
| Period start | 2026-02-01 | 2025-02-02 |
| Period end | 2026-08-01 | 2025-08-02 |
| Period type | six months | six months |
| Source accession | 10-Q | 10-Q |
| Income statement | ||
| Net sales | 51,982,000,000 | 49,057,000,000 |
| Cost of sales | 35,664,000,000 | 35,031,000,000 |
| Selling general and administrative | 11,286,000,000 | 9,950,000,000 |
| Depreciation and amortization | 1,337,000,000 | 1,287,000,000 |
| Operating income | 3,695,000,000 | 2,789,000,000 |
| Net interest expense | 215,000,000 | 232,000,000 |
| Net other expense income | -13,000,000 | -43,000,000 |
| Earnings before income taxes | 3,493,000,000 | 2,600,000,000 |
| Provision for income taxes | 835,000,000 | 629,000,000 |
| Net earnings | 2,658,000,000 | 1,971,000,000 |
| Basic EPS | 5.85 | 4.33 |
| Diluted EPS | 5.83 | 4.32 |
| Basic shares | 454,100,000 | 454,800,000 |
| Diluted shares | 456,200,000 | 456,100,000 |
| Gross margin | 16,318,000,000 | 14,026,000,000 |
| Cash flow | ||
| Depreciation and amortization | 1,597,000,000 | 1,558,000,000 |
| Share based compensation expense | 154,000,000 | 133,000,000 |
| Net cash provided by operating activities | 4,519,000,000 | 2,358,000,000 |
| Capital expenditures | -2,404,000,000 | -1,864,000,000 |
| Net cash used in investing activities | -2,397,000,000 | -1,853,000,000 |
| Additions to long term debt | 0 | 1,984,000,000 |
| Reductions of long term debt | -1,070,000,000 | -1,571,000,000 |
| Dividends paid | -1,034,000,000 | -1,019,000,000 |
| Repurchase of stock | -3,000,000 | -258,000,000 |
| Shares withheld for taxes on share based compensation | -92,000,000 | -62,000,000 |
| Net cash used in financing activities | -2,199,000,000 | -926,000,000 |
| Net change in cash and cash equivalents | -77,000,000 | -421,000,000 |
| Free cash flow | 2,115,000,000 | 494,000,000 |
| Net sales by category | ||
| Apparel and accessories | 7,937,000,000 | 7,797,000,000 |
| Beauty | 7,037,000,000 | 6,498,000,000 |
| Food and beverage | 12,255,000,000 | 11,490,000,000 |
| Hardlines | 7,415,000,000 | 6,597,000,000 |
| Home furnishings and decor | 6,906,000,000 | 6,880,000,000 |
| Household essentials | 9,187,000,000 | 8,779,000,000 |
| Other merchandise sales | 104,000,000 | 83,000,000 |
| Merchandise sales | 50,841,000,000 | 48,124,000,000 |
| Advertising revenue | 525,000,000 | 379,000,000 |
| Credit card profit sharing | 269,000,000 | 275,000,000 |
| Other revenue | 347,000,000 | 279,000,000 |
| Operating metrics | ||
| Comparable sales change percent | 4.7 | -2.8 |
| Comparable traffic change percent | 4.0 | -1.8 |
| Average transaction amount change percent | 0.7 | -1.0 |
| Shareholder returns | ||
| Dividends declared per share | 2.30 | 2.26 |
| Cash dividends declared | 1,065,000,000 | 1,044,000,000 |
| Notable items | ||
| Tariff refunds recognized as reduction of cost of sales | 994,000,000 | |
| Interchange fee settlement net gains in sga | 593,000,000 | |
TGT trailing twelve month income statement and cash flow
| Trailing twelve months ended August 1, 2026 | |
|---|---|
| Period start | 2025-08-03 |
| Period end | 2026-08-01 |
| Period type | trailing twelve months |
| Source accession | 10-Q |
| Also sourced from accession | 10-K |
| Income statement | |
| Net sales | 107,705,000,000 |
| Cost of sales | 76,144,000,000 |
| Gross margin | 31,561,000,000 |
| Selling general and administrative | 22,871,000,000 |
| Depreciation and amortization | 2,667,000,000 |
| Operating income | 6,023,000,000 |
| Net interest expense | 428,000,000 |
| Net other expense income | -65,000,000 |
| Earnings before income taxes | 5,660,000,000 |
| Provision for income taxes | 1,268,000,000 |
| Net earnings | 4,392,000,000 |
| Diluted EPS | 9.64 |
| Cash flow | |
| Depreciation and amortization | 3,173,000,000 |
| Net cash provided by operating activities | 8,723,000,000 |
| Capital expenditures | -4,267,000,000 |
| Free cash flow | 4,456,000,000 |
| Dividends paid | -2,068,000,000 |
| Repurchase of stock | -153,000,000 |
- Derivation. fiscal 2025 (year ended January 31, 2026, Form 10-K accession 0000027419-26-000016) plus the six months ended August 1, 2026 less the six months ended August 2, 2025 (both from Form 10-Q accession 0000027419-26-000042)
Adjustments
| Splits applied | none |
|---|---|
| ADR ratio | n/a |
| FX | none - the company reports in U.S. dollars |
Notes
- Target's fiscal year ends on the Saturday nearest January 31. The company calls the year ended January 31, 2026 fiscal 2025, the year ended February 1, 2025 fiscal 2024 and the year ended February 3, 2024 fiscal 2023; the labels here follow that convention. Fiscal 2025 and fiscal 2024 each contained 52 weeks; fiscal 2023 contained 53 weeks, and the company states the extra week contributed $1.7 billion to fiscal 2023 net sales. On the same convention the quarter ended August 1, 2026 is the second quarter of fiscal 2026 and the quarter ended August 2, 2025 is the second quarter of fiscal 2025.
- Annual figures are taken from the consolidated statements of operations, financial position, cash flows and shareholders' investment, and from the net sales note, in the fiscal 2025 Form 10-K (accession 0000027419-26-000016). That 10-K presents three years of operations and cash flows but only two year-end balance sheets, so fiscal 2023 carries no balance sheet here.
- Second-quarter, six-month and August 1, 2026 / August 2, 2025 balance-sheet figures are taken from the Form 10-Q for the quarter ended August 1, 2026 (accession 0000027419-26-000042). That 10-Q's January 31, 2026 balance-sheet column is identical to the fiscal 2025 year-end balance sheet in the 10-K.
- The 10-Q presents its cash flow statement for the six months only, and so does the accompanying second-quarter earnings release. The cash flow figures on each quarterly entry (operating cash flow, capital expenditures, free cash flow and dividends paid) are therefore derived as the six months in the Form 10-Q (accession 0000027419-26-000042) less the first quarter as presented in the first-quarter 2026 earnings release furnished on Form 8-K (accession 0000027419-26-000020, Exhibit 99), which prints three-month cash flow statements for the quarters ended May 2, 2026 and May 3, 2025. The results agree with the second-quarter release's own statements that second-quarter capital expenditures were $1.4 billion, 27 percent higher than a year earlier, and that dividends paid were $518 million against $509 million. The full six-month cash flow statement appears under the year-to-date views.
- Gross margin is not a line on Target's statement of operations; it is shown here as net sales less cost of sales, which is how the company itself defines it in its 10-K and 10-Q. For the six months ended August 1, 2026 that arithmetic gives $16,318 million; the second-quarter earnings release's operating-metrics table prints $16,319 million, $1 million above the arithmetic on the printed statement figures, consistent with rounding of the underlying amounts.
- Target operates as a single reportable segment, and nearly all of its revenue is generated in the United States. The net sales breakdown is the company's own disaggregation by merchandise category plus its non-merchandise revenue streams (advertising revenue, mainly from its Roundel advertising business; credit card profit sharing with TD Bank Group; and other revenue such as Target Plus marketplace commissions and Target Circle 360 membership). The 10-Q captions the hardlines category 'Hardlines (Fun 101)'; it is the same category the 10-K calls 'Hardlines'.
- Net other expense / (income) is carried with the sign the statements print it, so a negative value is net other income. The 10-K captions the line 'Net other income' and prints fiscal 2025's $95 million of income in parentheses; the 10-Q captions it 'Net other expense / (income)'.
- Target calls its equity 'shareholders' investment'; it is carried here as total shareholders' equity. Total liabilities is the sum of the total current and total noncurrent liabilities the balance sheet prints, and total debt is the sum of the two debt captions it prints, current portion of long-term debt and other borrowings plus long-term debt and other borrowings. Free cash flow is operating cash flow less expenditures for property and equipment. The company prints none of these three totals, and they are shown here for convenience. Shares outstanding are the period-end counts stated beneath each balance sheet.
- Cash flow lines are carried with the sign the statement prints, so outflows such as capital expenditures, dividends paid and share repurchases are negative.
- Second-quarter fiscal 2026 results include $994 million of refunds of tariffs paid under the International Emergency Economic Powers Act, received during the quarter and recognized as a reduction of cost of sales (10-Q Note 3). The second-quarter earnings release (Form 8-K, accession 0000027419-26-000034) states that these refunds contributed $752 million to net earnings and $1.65 to diluted EPS in the quarter, and the 10-Q states that refund claims still outstanding at August 1, 2026 have not been recognized.
- The six months ended August 2, 2025, and therefore fiscal 2025, include $593 million of net gains, recorded within SG&A expenses in the first quarter of 2025, from settlements of credit card interchange fee litigation in which Target was a plaintiff. Fiscal 2025 also includes $250 million of business transformation costs. The 10-Q states that no significant business transformation costs were incurred in the six months ended August 1, 2026 or the comparable prior-year period.
- The trailing-twelve-month view is fiscal 2025 plus the six months ended August 1, 2026 less the six months ended August 2, 2025. Its diluted EPS ($9.64) is the same arithmetic applied to the per-share figures, not a figure the company reports. Its operating income of $6,023 million differs from the $6,024 million printed in the second-quarter earnings release's return-on-invested-capital table, which is $1 million above the arithmetic on the printed statement figures, consistent with rounding of the underlying amounts.
- Dividends declared per share and in total come from the consolidated statements of shareholders' investment. The six-month amounts ($2.30 per share and $1,065 million for 2026; $2.26 and $1,044 million for 2025) are the sum of the two quarters that statement prints, and the per-share sums match the six-month dividends declared per share printed in the second-quarter earnings release.
- Comparable sales, traffic and average-transaction-amount changes, store counts and retail square feet are taken from the management's discussion and analysis in the 10-K and the 10-Q. Comparable sales cover all merchandise sales except those from stores open less than 13 months or that have closed. Retail square feet exclude office, supply chain facility and vacant space.
Uncertainties
- Quarterly cash flow figures are derived by subtracting first-quarter amounts, taken from the first-quarter earnings release rather than a Form 10-Q, from the six-month figures in the second-quarter Form 10-Q. They agree with the rounded second-quarter amounts the earnings release states, but Target does not print them as such.
- The trailing-twelve-month diluted EPS is an arithmetic combination of reported per-share figures, and because share counts differ between periods it is an approximation, not a reported measure.
Company details
| Name | Target Corp |
|---|---|
| Ticker | TGT |
| CIK | 0000027419 |
| Exchange | NYSE |
| State | Minnesota |
| Incorporation | Minnesota |
| SIC | 5331 |
| Office | Trade & Services |
| Industry | Retail-Variety Stores |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-08-01 |
| Form | 10-Q |
| Accession | 0000027419-26-000042 |
| Fiscal year end | 0201 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2026-01-31 | 2026-03-11 | 0000027419-26-000016 | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-08-01 | 2026-08-28 | 0000027419-26-000042 | facts |
FAQ · Target financial statements
How much revenue did Target make in Q2 FY2026?
Target reported $26.54 billion in net sales for Q2 FY2026, the quarter ended August 1, 2026. That is up 5.3% from $25.21 billion in the same quarter a year earlier.
What were Target's earnings per share in Q2 FY2026?
Target earned $4.11 per diluted share in Q2 FY2026, compared with $2.05 a year earlier, on net earnings of $1.88 billion, up 100.7%. The quarter included tariff refunds recorded as a $994 million pretax reduction of cost of sales.
Why did Target's profit rise so much in Q2 FY2026?
Most of the increase in Target's Q2 FY2026 earnings came from refunds of tariffs it had paid under the International Emergency Economic Powers Act, received during the quarter and recorded as a $994 million pretax reduction of cost of sales. Excluding the refunds, Target's earnings per share still rose from a year earlier, and Target did not recognize refund claims that were still outstanding at the end of the quarter.
What were Target's comparable sales in Q2 FY2026?
Target's comparable sales rose 3.8% in Q2 FY2026, the quarter ended August 1, 2026, after a decline of 1.9% in the same quarter a year earlier.
Where can I get Target Corporation (TGT) financial data in machine-readable form?
Ticker Scout publishes Target Corporation's financial statements as JSON at https://tickerscout.ai/tgt/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/tgt/narrative.md and https://tickerscout.ai/tgt/events.md. Target Corporation's SEC CIK is 0000027419. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Target Corporation (TGT) next file with the SEC?
Target Corporation (TGT) is expected to file its next Form 10-Q with the SEC on or around November 25, 2026. That date is a projection rather than a company-announced date: it is derived from Target Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-08-01, SEC accession 0000027419-26-000042.
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How this page was built
This page was built from four of Target Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names two such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Target Corporation's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.