TARGET (TGT) Company Report

New CEO Michael Fiddelke appoints Cara Sylvester as Chief Merchandising Officer and Lisa Roath as Chief Operating Officer, effective Feb. 15, 2026.
Rick Gomez (Chief Commercial Officer) will depart and Jill Sando (Chief Merchandising Officer for apparel and accessories, home and hardlines) will retire, both remaining briefly to ensure a smooth transition.
The company is conducting an external search for a Chief Guest Experience and Marketing Officer to fill a new leadership role.
Target confirms it expects to report Q4 2025 sales, full-year GAAP EPS and full-year Adjusted EPS in line with its prior guidance.

15 hours ago

8-K

Target announces leadership changes and confirms Q4 2025 guidance

TGT

Management Change

Guidance Update

Under new CEO Michael Fiddelke, Target realigns its executive team to strengthen merchandising authority and enhance the guest experience.
Cara Sylvester is named Chief Merchandising Officer and Lisa Roath becomes Chief Operating Officer, while Rick Gomez departs and Jill Sando retires to support the transition.
The company expects to report Q4 2025 sales and full-year GAAP and Adjusted EPS in line with prior guidance.

1 day ago

Press Release

Target plans 500 job cuts, invests in stores

TGT

Layoffs

New Projects/Investments

Target will eliminate 500 roles—about 400 in supply-chain sites and 100 at the store district/regional level—while preserving all store-level positions.
Savings will be redirected to bolster frontline store hours and improve guest experience as part of CEO Michael Fiddelke’s operational overhaul.
Affected employees will receive transition support, and starting wages for store staff ($15–$24/hr) remain unchanged.
This move follows roughly 1,800 corporate role cuts last year and comes amid a 12% drop in Target’s share price over the past 12 months.

2 days ago

Bloomberg

Target launches ButcherBox fresh beef products

TGT

Product Launch

ButcherBox is introducing fresh, 100% grass-fed, grass-finished beef in 1,463 Target stores across 326 cities nationwide.
This marks the brand’s first major retail launch beyond its direct-to-consumer subscription model, which generated over $570 million in 2025, a >10% year-over-year increase.
The in-store rollout follows ButcherBox’s 2025 debut on Target Plus, leveraging insights from Target’s curated digital marketplace to tailor its product selection.

Jan 15, 2026, 11:00 AM

Press Release

Target shares rise on reported activist stake

TGT

Target shares climbed to $98.77, up 2.3%, trading between $96.11 and $101.30 on thin post-Christmas volume.
Activist investor Toms Capital Investment Management has taken a significant undisclosed stake, potentially pushing for operational, capital-allocation or governance changes.
The retailer has endured 12 consecutive quarters of weak or flat same-store sales and its stock is down about 64% from its pandemic-era peak.
Analyst consensus in the past three months stands at 8 Buys, 12 Holds and 3 Sells, with an average price target of $99.23 (implying ~1.2% upside).

Dec 26, 2025, 3:17 PM

Bloomberg

Target to Be Added to ByHeart Botulism Lawsuits

TGT

Legal Proceedings

Bill Marler will add Target as a defendant in lawsuits against ByHeart over infant botulism linked to its baby formula.
The CDC reported 51 infants hospitalized with botulism after consuming ByHeart formula in the past two years; none have died.
The FDA sent letters to Target on Dec. 12 directing improved removal of recalled ByHeart formula following the company’s Nov. 11 recall.
Target’s network of nearly 2,000 stores and $106 billion in fiscal 2024 sales highlights its potential legal and compliance exposure.

Dec 22, 2025, 4:27 AM

Bloomberg

Target launches ChatGPT-integrated shopping experience

TGT

Product Launch

Target app in ChatGPT will let consumers shop directly within ChatGPT in a beta launching next week, offering curated browsing and multi-item purchasing.
The experience supports fresh food shopping, personalized recommendations and multiple fulfillment options (Drive Up, Order Pickup or shipping).
Built in partnership with OpenAI, this initiative complements Target’s broader AI deployments, such as enterprise ChatGPT for supply chain forecasting and store operations.
Target operates nearly 2,000 stores and commits 5% of its profits to communities, underscoring its scale and social investment.

Nov 19, 2025, 2:01 PM

Press Release

Target reports Q3 profit decline, EPS beats estimates

TGT

Earnings

Guidance Update

Demand Weakening

Q3 revenue: $25.3 billion, down 1.4–1.6% year-over-year, aligning with analyst expectations.
Net income of $689 million ($1.51/diluted share) vs $854 million ($1.85/share) in prior year; adjusted EPS of $1.78 surpassed estimates.
Full-year adjusted EPS guidance cut to $7.00–$8.00 per share, below earlier outlook.
Balance sheet shows liquidity strain: current ratio 0.99 and debt-to-equity 1.3.
Expects low-single-digit same-store sales decline in the holiday quarter amid ongoing headwinds.

Nov 19, 2025, 1:59 PM

Bloomberg

Target cuts profit forecast, plans $5B store investment

TGT

Guidance Update

Profit Warning

New Projects/Investments

Target reported a 19% decline in net income and $25.27 billion in revenue for the quarter ended November 1, with comparable store sales down 2.7%, marking a third consecutive quarter of declines.
The company lowered its full-year profit guidance to $7–8 per share, down from a previous ceiling of $9, citing weakened consumer demand and a shift toward discounted essentials.
Target plans a $5 billion investment in 2026 to modernize stores and integrate AI technologies, including a partnership with OpenAI for ChatGPT-enabled purchases.
Brick-and-mortar sales, which account for about 80% of revenue, continue to decline despite digital growth, contributing to a 35% year-to-date drop in stock price.

Nov 19, 2025, 1:56 PM

Bloomberg

Target reports Q3 2026 results

TGT

Earnings

Guidance Update

New Projects/Investments

Q3 net sales declined 1.5% year-over-year, with comparable store sales down 4% and digital sales up 2.4%; GAAP EPS was $1.51, and adjusted EPS was $1.78, a 4% decrease from last year.
Gross margin rate of 28.2% was 10 basis points below prior year, driven by higher markdowns partly offset by inventory shrink improvements, which are expected to deliver 80–90 basis points of full-year margin benefit to pre-pandemic levels.
For Q4, Target expects a low-single-digit comparable sales decline and full-year adjusted EPS of $7.00–$8.00, with GAAP EPS estimated about $0.70 higher due to a litigation settlement.
Capital expenditures totaled $2.8 billion through Q3, with full-year CapEx of ~$4 billion; 2026 CapEx is planned at $5 billion (up 25%), focusing on new stores, remodels, technology, and digital fulfillment.
Management reiterated three strategic priorities—design-led merchandising authority, elevated guest experience, and enhanced technology—and noted the elimination of 1,800 headquarters roles (8%) to simplify decision-making and improve agility.