Target (TGT) Posts 5.3% Sales Growth, Hikes Full-Year Guidance

Target (TGT) reported a 5.3% increase in net sales for its fiscal second quarter, supported by a $752 million tariff refund. Comparable sales rose 3.8%, exceeding Wall Street's estimate of 2.4%. The retailer raised its full-year net sales growth guidance to around 5% and expects earnings per share (EPS) between $9.90 and $10.90, up from a prior range of $7.50 to $8.50. Despite strong results, Target shares saw a 1% decline in premarket trading, reflecting cautious investor sentiment about the company's ongoing turnaround efforts.