Target reported stronger-than-expected first-quarter sales as the retailer showed early progress in its turnaround strategy under new CEO Michael Fiddelke, according to the Associated Press.
The company said increased customer purchases across all six major merchandise categories helped boost performance. Net sales rose 6.7% to $25.44 billion during the February-to-April quarter, while comparable sales increased 5.6%. Analysts had expected weaker results, the report said.
Target raised its annual sales growth forecast for the first time in two years, as new CEO Michael Fiddelke's investment-heavy strategy begins to show results.
— PiQ Newswire (@PiQNewswire) May 20, 2026
More Here → https://t.co/dnDd6rayZu pic.twitter.com/QNhybErFhx
Fiddelke, who became CEO in February, has launched a $6 billion overhaul plan aimed at reversing years of declining sales and improving store conditions. The company has focused on remodeling stores, improving staffing, refreshing product categories and restoring its reputation for affordable fashion and home goods.
Executives said new partnerships with brands like Roller Rabbit and expanded toy offerings under $10 attracted shoppers. Target also raised its full-year sales forecast, projecting 4% annual growth.
Despite the improved results, the retailer continues facing pressure from Walmart, economic uncertainty and fallout from past controversies involving diversity policies and protests tied to immigration enforcement in Minneapolis.
Also Read:
What Did Xi Tell Trump About China’s Support For Iran
US, China Are Discussing AI Guardrails To Safeguard Most Powerful Models, Bessent Says
