{"id":2046,"date":"2026-05-20T18:01:37","date_gmt":"2026-05-20T18:01:37","guid":{"rendered":"https:\/\/houstonmovingjournal.com\/?p=2046"},"modified":"2026-05-20T18:01:37","modified_gmt":"2026-05-20T18:01:37","slug":"target-reports-best-quarterly-sales-growth-since-2022-under-new-ceo","status":"publish","type":"post","link":"https:\/\/houstonmovingjournal.com\/?p=2046","title":{"rendered":"Target reports best quarterly sales growth since 2022 under new CEO"},"content":{"rendered":"<div> <!-- --> <!-- --><\/p>\n<p><span><strong>(FOX 9)<\/strong> &#8211; <\/span>Target is reportedly seeing a surge in sales after launching a major turnaround plan under its new CEO only a few months ago.<\/p>\n<p>Read more <a href=\"https:\/\/houstonmovingjournal.com\/?p=2044\">Kerr County installs first flash flood warning sirens under Senate Bill 3<\/a><\/p>\n<h2>Target\u2019s sales bounce back from inflation, DEI challenges<\/h2>\n<p> <!-- --><\/p>\n<p>What we know:<\/p>\n<p> <!-- --><\/p>\n<div><\/div>\n<p> <!-- --><\/p>\n<p>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 \u2013 the biggest quarterly gain since early 2022, and the first positive result after three straight quarters of declines.<\/p>\n<p> <!-- --><\/p>\n<p>Dig deeper:<\/p>\n<p> <!-- --><\/p>\n<p>During an earnings call, Target CEO Michael Fiddelke, who took over in February, credited growth in all six of its main merchandising categories for the strong results.<\/p>\n<p> <!-- --><\/p>\n<p>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%.<\/p>\n<p> <!-- --><\/p>\n<p>Fiddelke said on Wednesday that he\u2019s &#8220;guardedly optimistic&#8221; given where the company is in its operational overhaul.<\/p>\n<p> <!-- --><\/p>\n<p>The backstory:<\/p>\n<p> <!-- --><\/p>\n<p>Target presented a $6 billion turnaround plan to investors in March that focused on remodeling stores, improving staffing and training, and &#8220;reclaiming its reputation for affordable, stylish clothing,&#8221; a press release says.<\/p>\n<p> <!-- --><\/p>\n<p>Fiddelke was among 60 CEOs of Minnesota-based companies who signed an open letter in January &#8220;calling for an immediate de-escalation of tensions and for state, local and federal officials to work together to find real solutions.&#8221;<\/p>\n<p>Read more <a href=\"https:\/\/houstonmovingjournal.com\/?p=2037\">Oklahoma trucker charged after 42 migrants found locked in hot tractor-trailer at Texas checkpoint<\/a><\/p>\n<p> <!-- --><\/p>\n<p>At the time, Fiddelke acknowledged that recent boycotts and protests had impacted Target\u2019s sales.<\/p>\n<p> <!-- --><\/p>\n<p>The company also faced backlash after rolling back diversity, equity and inclusion initiatives, which led to protests and boycotts over the last two years.<\/p>\n<p> <!-- --> <!-- --><\/p>\n<p>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.<\/p>\n<p> <!-- --><\/p>\n<p>By the numbers:<\/p>\n<p> <!-- --><\/p>\n<p>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.<\/p>\n<p> <!-- --><\/p>\n<p>Target\u2019s 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.<\/p>\n<p> <!-- --><\/p>\n<p>Annual sales are forecast to reach $108.97 billion, above the $107.15 billion anticipated by analysts.<\/p>\n<p>Read more <a href=\"https:\/\/houstonmovingjournal.com\/?p=2034\">Sabine Pass crash: 5th person dies after van crashes into bus on highway 87<\/a><\/p>\n<p> <!-- --> <!-- --> <!-- --> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":2045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60,197,8],"tags":[],"class_list":["post-2046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-minnesota","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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