Preamble: Target is reporting its strongest quarterly sales performance since early 2022, and new CEO Michael Fiddelke is taking much of the credit. The report covers comparable sales growth, a $6 billion turnaround plan, and the company’s efforts to regain market share in clothing and home goods, with references to former CEO Brian Cornell and coverage by reporter Nick Halter. Figures include a 5.6% rise in comparable sales for the quarter ending May 2, 2026, and updated annual guidance that pushed revenue expectations higher.
Target stunned some skeptics with a clear uptick in customer spending this spring, and shareholders noticed. Comparable sales, which track stores and online purchases from locations open at least a year, climbed 5.6% in the three months ending May 2, 2026. That marks the retailer’s best quarterly gain since early 2022 and the first positive quarter after three straight declines.
The lift wasn’t a fluke — Target reported first-quarter net sales of $25.44 billion, a 6.7% increase that outpaced analyst expectations. Earnings were $781 million, or $1.71 per share, down from $1.04 billion or $2.27 per share a year earlier, but the sales momentum mattered more to investors. Management used the report to bump its annual revenue outlook, now expecting net sales growth of about 4% for the year instead of the prior 2% forecast.
CEO Michael Fiddelke, who took the helm in February, framed the progress as the early payoff of a big turnaround plan. Executives pointed to growth across all six of Target’s main merchandising categories, with particular emphasis on home goods and apparel where the chain had lost ground. Fiddelke described the company as “guardedly optimistic” about how the operational overhaul is tracking against targets.
That overhaul is no small thing. In March, Target rolled out a $6 billion plan aimed at remodeling stores, beefing up staffing and training, and reestablishing its reputation for affordable, stylish clothing. The company says about 75% of decorative home accessories will be new this year, a direct push to win back shoppers who migrated elsewhere. These changes are intended to reverse the soft spots that dragged on sales over the past few years.
Target’s history during the past several years has been rocky and public. Former CEO Brian Cornell led the company through periods of growth and controversy, and media coverage by reporters like Nick Halter tracked those ups and downs closely. The retailer also faced protests and boycotts tied to changes in diversity, equity and inclusion policies, events that executives acknowledge did have a sales impact.
Management is also trying to stitch back trust with shoppers through clearer value and assortment decisions. The company has been focused on reclaiming market share in apparel and home categories, areas where pricing, trend relevance and inventory choices can quickly move customer perceptions. Executives pushed guidance that suggests they expect the early sales gains to hold and to translate into fuller-year improvements.
Analysts and investors will be watching margins and execution as closely as top-line numbers. Target now projects annual sales around $108.97 billion, above the consensus that had hovered near $107.15 billion. For earnings, the company expects per-share results to land near the high end of a $7.50 to $8.50 range, a forecast that sits close to analysts’ $8.12 estimate for the year.
There are still risks on the horizon, from lingering consumer frugality to competitive price pressure and the challenges of executing a large, costly turnaround. Yet the combination of refreshed assortments, store remodels and stronger merchandising appears to be nudging shoppers back through the doors. For now, Target’s latest quarter reads as a step in the right direction rather than a guarantee of sustained recovery.
