Target 2026 earnings and tariff refund boost
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Target reports $1bn boost from tariff refunds
Trump announced on Tuesday he would delay the introduction of new import taxes on various Canadian goods for three days as trade negotiations continue
Target chief executive Michael Fiddelke said the company was encouraged by its progress
Businesses are receiving tax rebates on goods imported to the US following a Supreme Court ruling that declared a wave of President Donald Trump's import tariffs unlawful
“While there's still meaningful work ahead, we're encouraged by the progress we're making and remain focused on executing with discipline,”
Target reports turnaround progress and tariff refund
Fiddelke said Target changed 75% of its decorative accessories assortment
Fiddelke said sustained, durable top- and bottom-line growth over time is the company's goal
Target said it has lowered prices on more than 10,000 items
“Q2 is an important step forward in the plan we laid out earlier this year to open a new chapter of growth for Target. What you saw from us this quarter reflects the level of change we knew would be needed to put our strategy in motion.”
Target reports earnings beat, CEO encouraged by turnaround
Target's net sales increased 5.3% year over year to $26.5 billion in the second quarter.
Target's gross profit margin was 33.7% in the second quarter.
Target CEO Michael Fiddelke said he is encouraged by the company's turnaround.
“We laid out a plan for the year that had a lot of change in it — more change to what we were selling and how we were going to sell it than in the last decade. And a couple of quarters in, it's great to see a strong guest response to some of the places we're making changes.”
US retail giant receives $1bn boost from tariff refunds
Estee Lauder recorded a $38m benefit in the cost of sales from tariff refunds in its latest quarterly results.
Trump has threatened to impose a 50% levy on nearly $20bn worth of imports from Canada.
Target CFO Jim Lee said the company has and will continue to invest in price.
“While there's still meaningful work ahead, we're encouraged by the progress we're making and remain focused on executing with discipline,”