Target Reports Continued Sales Decline, Projects Future Growth and Improved Outlook
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Target Sales Dip Again, But Strong Outlook Lifts Shares Over 4%
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CNBC TV18•03-03-2026, 20:42
Target Sales Dip Again, But Strong Outlook Lifts Shares Over 4%
•Target reported another quarter of declining sales and profits, with sales falling 1.5% to $30.45 billion and full-year sales down nearly 2%.
•Despite the dip, the company offered a solid annual profit outlook, surpassing Wall Street's projections and expecting net sales growth every quarter.
•Shares jumped over 4% before the opening bell, fueled by the optimistic forecast and early signs of comparable-store sales growth this quarter.
•New CEO Michael Fiddelke faces challenges including customer dissatisfaction, Walmart competition, and controversies over DEI and immigration.
•Fiddelke has already reshuffled leadership, boosted staffing, and is reworking store brands, with a Roller Rabbit collaboration launching this month.
