Target’s Q1 2026 Gains Cross-Sells, Lifts Full-Year Outlook

Target posted Q1 2026 net sales of $25.4 billion, up 6.7% year over year, driven by broad strength across merchandise categories and channels with digital sales up 8.9% and non-merchandise revenue up about 25%. GAAP and adjusted EPS were $1.71, with net earnings of $781 million, while gross margin rose to 29.0% and operating income was $1.14 billion. Capital expenditures reached $1.0 billion; dividends totaled $516 million and there were no stock repurchases in the quarter. The company raised its 2026 net‑sales growth outlook to around 4% and reiterated guidance toward high end of $7.50–$8.50 for full-year EPS, signaling disciplined, growth-oriented momentum for the year.