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
The $100bn in refunds represented about 60% of all tariff revenue collected by the government under the policy
Target sources 30% of its store-label goods from China, down from 60% in 2017
“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 earnings beat, CEO encouraged by turnaround
Target's diluted earnings per share was $4.11 in the second quarter.
Target's net sales increased 5.3% year over year to $26.5 billion in the second quarter.
Target cut prices on 10,000 items in the past year.
“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
Target CFO Jim Lee said the company has and will continue to invest in price.
Target's second quarter operating income doubled to $2.6bn from $1.3bn the prior year.
Estee Lauder's full-year gross impact of incremental tariffs was $102 million.
“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
Target said its second-quarter gross margin and operating income included a $994 million pretax benefit from the tariff repayment
Target's fiscal second-quarter results included a $752 million boost to net earnings, or $1.65 per share, from tariff refunds
Target opened 17 new stores in the second quarter
“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.”