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Target Sales Fall Again, but Retailer Predicts Rebound

CEO forecasts gains all through the rest of the year
Posted Mar 3, 2026 8:05 AM CST
Target Sales Fall Again, but Retailer Predicts Rebound
The Target logo displayed on a sign outside a store in Salem, N.H.   (AP Photo/Charles Krupa, File)

Target's latest quarter brought another sales slide—but the retailer is optimistic that the slump is easing. The retailer reported a fourth straight drop in customer traffic and a 1.5% dip in quarterly revenue to $30.5 billion, slightly missing Wall Street's top-line forecast, reports CNBC. Its net profit fell about 5% to $1.1 billion, per the Wall Street Journal. However, earnings beat expectations, and Target said sales turned positive in February, the start of its current quarter. New CEO Michael Fiddelke called that shift "an important milestone" and forecast about 2% net sales growth for the full year, with gains expected every quarter.

The optimism boosted shares, which are now up 16% this year after dropping 32% over the previous three years, per CNBC. The Journal notes that Target faces stiff competition from Amazon, Walmart, and Costco, where sales have been strong in recent months even as Target's have floundered. The company previously announced plans to spend about $1 billion this year on improvements to stores and technology, and it also pledged to beef up staffing within stores.

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