# Target Raises Guidance as Tariff Refund and Stronger Sales Point to a Turnaround

> Target posted quarterly results boosted by a tariff refund and raised its full-year guidance, adding to signs its turnaround plan is starting to work, according to CNBC.

- Source: Money Standard
- Canonical URL: https://moneystandard.co.uk/article/target-raises-outlook-as-turnaround-shows-signs-of-taking-hold
- Author: Money Standard Newsroom
- Section: Business
- Published: 2026-08-16T01:57:36.823Z
- Updated: 2026-08-16T01:57:36.823Z
- Tags: Target earnings

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Target's net sales climbed 5.3% from a year earlier, with comparable sales up 3.8%, well ahead of the 2.4% Wall Street had expected, and the company described the strength as broad-based across categories, according to CNBC.

"We're encouraged by the progress made so far, and we're also clear-eyed about the important work still ahead," CEO Michael Fiddelke told reporters on a call, calling the quarter an important step in the growth plan he laid out earlier this year.

The results included a $752 million, or $1.65-a-share, boost to earnings from tariff refunds, contributing a $994 million pretax benefit to gross margin and operating income. Target raised its full-year net sales growth guidance by a point to about 5%, and now expects earnings per share of $9.90 to $10.90 including the refund, or $8.25 to $9.25 excluding it, up from a prior $7.50 to $8.50 range.

Fiddelke cautioned that two strong quarters in a row don't mean the job is done. "To be clear, we have much more work to do," he told reporters, though he said stronger execution and improving customer feedback give the company a firmer foundation to build on.

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Originally published by Money Standard. Free to cite with attribution and a link to https://moneystandard.co.uk/article/target-raises-outlook-as-turnaround-shows-signs-of-taking-hold.