+34
Still facing backlash over several boycott attempts, Target is reportedly seeing a surge in sales after launching a major turnaround plan under its new CEO.
Axios reporter Nick Halter has followed former Target CEO Brian Cornell for most of his tenure. Halter joins All Day to break down the former CEO's legacy and the state of the company.
On Wednesday, Target reported a 5.6% jump in comparable sales for the quarter ending May 2 – the retailer’s biggest increase in four years. The company raised its annual revenue outlook and expects continued momentum through the rest of the year. Target’s CEO Michael Fiddelke said he remains cautiously optimistic as the company works through its $6 billion turnaround plan.
According to its earnings report released on Wednesday, Target said comparable sales, which include both in-store and online purchases from locations open at least a year, rose 5.6% in the three months ending May 2, 2026 – the biggest quarterly gain since early 2022, and the first positive result after three straight quarters of declines. In their wake, Target also raised its annual revenue outlook, now expecting net sales growth to be up 4% for the year, compared to its previous forecast of 2%.
Target presented a $6 billion turnaround plan to investors in March that focused on remodeling stores, improving staffing and training, and "reclaiming its reputation for affordable, stylish clothing," a press release says.in January "calling for an immediate de-escalation of tensions and for state, local and federal officials to work together to find real solutions.
" The company also faced backlash after rolling back diversity, equity and inclusion initiatives, which led to protests and boycotts over the last two years. Minnesota activists held a news conference to say they are continuing the boycott against Target over its rollback of DEI measures in 2025.
Fiddelke says Target has been working to win back customers by focusing on categories where it lost market share, especially home goods and clothing, with 75% of decorative home accessories set to be new this year, according to corporate guidance. The earnings report released says that Target posted first-quarter earnings of $781 million, or $1.71 per share, compared to $1.04 billion, or $2.27 per share, a year ago. Net sales rose 6.7% to $25.44 billion, beating analyst expectations.
Target’s annual earnings outlook now expects earnings per share to end up near the high end of $7.50 to $8.50, with analysts projecting $8.12 per share for the year.
Scratch the next story
United States Latest News, United States Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
Man convicted of murder for fatally shooting man during 2022 robbery in RochesterRochester, N.Y. — A man is now awaiting sentencing after being convicted of fatally shooting another man during a robbery nearly four years ago.
Read more »
Man gets life sentence in 2022 Tracy convenience store attack that left clerk with catastrophic injuriesA man convicted in a brutal 2022 attack on a convenience store clerk in Tracy was sentenced to life in prison plus 14 years, prosecutors said Tuesday.
Read more »
Houston crime: Suspect pleads guilty to killing Houston mechanic over $500 repair days before Christmas 2022One of two men facing murder charges in connection of the death of a Houston mechanic days before Christmas in 2022 has pleaded guilty to the crime, according to court records.
Read more »
Target Breezes Past Q1 Estimates in CEO Michael Fiddelke’s First QuarterTarget Q1 2026 earnings showed a company starting to rebound with a nice sales gain and stronger than expected earnings.
Read more »