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NewsWPLG Local 10 – Main FeedAugust 19, 2026Miami-Dade

Target reports sales growth and receives $994 million tariff refund

Target recorded its second consecutive quarter of sales growth, driven by a merchandising overhaul and a $994 million tariff refund from the U.S. government. The retailer also raised its annual profit and sales outlook after seeing increased customer traffic in stores and online from May through July.

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Why It Matters

The company's financial performance and its use of a nearly $1 billion federal tariff refund are being closely watched by analysts to see if savings are passed on to consumers through lower prices.

Key Facts

  • Target received a $994 million tariff refund following a U.S. Supreme Court ruling.
  • Comparable sales rose 3.8% in the second quarter.
  • Net income for the quarter ending Aug. 1 was $1.87 billion, or $4.11 per share.
  • Net sales increased 5.3% to $26.54 billion for the period.
  • Target raised its full-year earnings per share outlook to a range of $9.90 to $10.90.
  • The company reduced prices on more than 10,000 items over the past year.
  • Target plans to reach 130 full-scale store remodels this year.
  • Digital comparable sales increased 8.7% during the second quarter.
  • Target is launching a new 'Target Beauty Studio' concept in over 600 locations next month.
  • The partnership with Ulta ended this month.

Who's Mentioned

organizationCommerce Department“Federal agency that released retail sales data”personJim Lee“Target Chief Financial Officer”organizationUlta“Former partner of Target in-store shops”personMichael Fiddelke“Target CEO”organizationTarget“Retailer reporting financial results”organizationU.S. Supreme Court“Court that issued the ruling on tariffs”personIsaac Mizrahi“Fashion designer and new Target creative director at large”personDonald Trump“Former President whose tariff policies were ruled overstepping authority”