Target Tops Q1 Revenue, Profit Forecasts Yet Shares Dip Amid Cautious Outlook

Target Corp. (TGT) reported first-quarter revenue and profit on May 27, 2026, that surpassed Wall Street estimates, but the stock fell 1.8% to $124.96 as investors focused on management’s cautious tone about the pace of its ongoing transformation. CEO Michael Fiddelke said growth was broad-based across stores and digital channels, led by traffic. Chief Merchandising Officer Cara Sylvester noted early signs of progress from updated assortments and partnerships, while emphasizing that most of the overhaul is still ahead. Analysts on the earnings call questioned execution risks for major product resets in grocery, home and beauty, improvements in inventory reliability, and the extent to which exclusive launches can drive customer acquisition. TGT had closed at $127.24 before the release. Management highlighted new leadership roles and a focus on core customer segments like busy families as pivotal to the strategy.