Retail
Price
$164.44
+0.26%Market Cap
$74.51B
Day High
$164.82
Day Low
$162.75
Target's Q2 FY2026 results were boosted by a $994 million tariff refund, with net sales up 5.3% and diluted EPS up 100.5% to $4.11, though underlying operating income growth excluding the refund was about 19%.
Key risk: Dependence on one-time tariff refunds
Q2 FY2026 operating income includes $994 million from IEEPA tariff refunds recognized as a reduction of Cost of Sales. Excluding this benefit, operating income growth would have been approximately 19% rather than the reported 94.4%, indicating material earnings dependency on a non-recurring item.
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