⚡What does Target do, in 30 seconds?
Target runs U.S. discount stores and a website that sell food, household essentials and general merchandise 181935. In FY2025, the year to 31 January 2026, it took in $104.8bn ✓. Food and beverage was the biggest category, at 23% ✓ of that.
📱What does Target sell?
Target sells six main kinds of goods, from groceries to toys, and earns a little extra from ads, a credit card deal and other services. Here is what each line is and who buys it.
Food and beverage
Dry and fresh groceries, such as snacks, drinks, deli, bakery, meat and produce, plus in-store food service, mainly Starbucks 1. Target also sells exclusive adult drinks brands, such as California Roots and Wine Cube 2. This line brought in $24.1bn ✓ in FY2025.
👥 Shoppers who add groceries to a Target trip.
Household essentials
Cleaning supplies, paper products, over-the-counter medicine, vitamins, baby gear and pet supplies 1. This line brought in $18.0bn ✓ in FY2025.
👥 Families stocking up on everyday basics.
Hardlines
Electronics, including video games and consoles, plus toys, sporting goods, entertainment and luggage 1. In 2025, Target pushed ahead with a multi-year plan to turn this area into what it calls Fun 101 4. Hardlines brought in $15.8bn ✓ in FY2025. Fun 101 sales grew by double digits in the quarter to 1 August 2026 5.
👥 Kids, gamers, gift buyers and sports fans.
Apparel and accessories
Clothes for women, men, young adults, kids, toddlers and babies, plus jewelry, accessories and shoes 1. This line brought in $15.7bn ✓ in FY2025.
👥 Families buying clothes for every age.
Home furnishings and decor
Bed and bath, decor, school and office supplies, storage, small appliances, kitchenware, cards, party supplies, furniture, lighting and seasonal goods 1. This line brought in $15.6bn ✓ in FY2025.
👥 People setting up or refreshing a home, and students heading back to school.
Beauty
Skin and bath care, cosmetics, hair care, oral care, deodorant and shaving products 1. Beauty brought in $13.2bn ✓ in FY2025. In 2025, Target and Ulta Beauty agreed to end their shop-in-shop deal at its expiry in August 2026 6.
👥 Shoppers buying everyday beauty and personal care products.
Advertising
Most of this comes from Roundel, which sells ads to brands and other businesses, including marketplace sellers 12. Some Roundel deals count as lower costs, not as sales 12. In 2025, Roundel launched Precision Plus, an ad tool that uses data and AI learning 4. Advertising brought in $0.9bn ✓ in FY2025.
Other revenue
Commissions on sales by outside sellers on the Target Plus marketplace, fees for the paid Target Circle 360 membership, Shipt membership and service fees, and rent 1. This line brought in $0.6bn ✓ in FY2025.
👥 Outside sellers, paying members and tenants.
Credit card profit sharing
TD Bank Group lends the money on Target Circle credit cards and owns the balances 1. Target gets a share of the profits for servicing the accounts and marketing them 1. This line brought in $0.5bn ✓ in FY2025.
👥 Shoppers who use the Target Credit Card or Target MasterCard 2.
Other merchandise
A small line of other merchandise, which brought in $0.2bn ✓ in FY2025.
👥 Everyday Target shoppers.
How the mix has shifted
💸How does Target make money?
Follow the money: what customers pay for, what it costs to make, and what is left as profit.
Target took in $104.8bn ✓ in FY2025. Buying the goods it sold and getting them to its shelves cost $75.5bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $29.3bn ✓.
Next come the costs of running stores, websites and offices, such as wages and marketing. Selling and admin costs took $21.5bn ✓, and other operating costs took $2.6bn ✓. What remains is operating profit, the profit from the main business, which was $5.1bn ✓. Other items came to -$0.4bn ✓, and tax took $1.1bn ✓. That left net income of $3.7bn ✓. Put simply, out of every $100 of sales, Target spent about $72 ✓ on goods and $21 ✓ on selling and admin. It kept about $4 ✓ as profit.
Out of every $100 customers paid in FY2025 (the year to Jan 2026)…
⏱️ Target by the clock
Spread the FY2025 totals evenly over its 364 days and you get this. Source: TARGET CORP 10-K [7].
📈How is Target doing?
Target's sales shrank a little in FY2025 but have grown over the latest four quarters. FY2025 sales came to $104.8bn ✓, down 1.7% ✓ on FY2024. Comparable sales fell 2.6% that year, driven by a 2.2% drop in the number of transactions 25. Operating margin was 4.9% ✓, down from 5.2% ✓ in FY2024. Free cash flow was $2.8bn ✓.
The latest four quarters, to 1 August 2026, look stronger. Sales reached $107.7bn ✓, up 2.0% ✓ on the four quarters before. Operating margin was 5.6% ✓. That figure includes $994 million of tariff refunds that Target booked as lower cost of sales in the quarter to 1 August 2026 528. Comparable sales rose 5.6% in the quarter to 2 May 2026 36. They rose 3.8% in the quarter to 1 August 2026, with traffic up 3.6% 5.
Over a longer stretch, growth has been bumpy. Sales jumped 19.8% ✓ in FY2020 and 13.3% ✓ in FY2021, and rose 2.9% ✓ in FY2022. Then came three small declines in a row: -1.6% ✓ in FY2023, -0.8% ✓ in FY2024 and -1.7% ✓ in FY2025.
📝 The report card
Target earns a good mark for steadiness, a middle mark for its balance sheet and low marks for growth, profit and cash on a scale built for all kinds of companies. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Target (orange) and its 4 peers land; further right is better.
Growth
Over its last three fiscal years, to January 2026, Target's sales changed by -1.3% ✓ a year, which earns an F ✓ on the fixed scale. Kroger's figure is -0.1% ✓, also an F ✓. Amazon grew 11.7% ✓ a year, a B ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Target kept 5.1% ✓ of sales as operating profit, which earns a D ✓. Two big rivals keep even less. Walmart is at 4.2% ✓, an F ✓, and Costco at 3.8% ✓, also an F ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Target turned 3.5% ✓ of sales into free cash flow, an F ✓. That is above the 2.5% ✓ peer median. Amazon is a little higher at 3.8% ✓, also an F ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
Target's borrowings are bigger than its cash. At the end of FY2025, its cash and investments minus borrowings (leases not counted) came to -4.0% ✓ of a year's sales, a C ✓. Its net cash was -$4.2bn ✓ then. By 1 August 2026, it was -$8.8bn ✓. Walmart and Kroger, whose years also ended in January 2026, were at -4.8% ✓ and -8.5% ✓. Target's operating profit covered its interest bill 11.5x ✓ in FY2025.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Target's yearly growth swings more than most of its rivals. How much it swings, measured from year to year, is 7.5% ✓, which earns a B ✓. Walmart's figure is just 2.1% ✓, an A ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Target compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Over the 11 fiscal years from FY2015 to FY2025, Target paid out $41.5bn ✓ in buybacks and dividends, against $41.9bn ✓ of free cash flow. In FY2025 it paid $2.1bn ✓ in dividends and spent $0.4bn ✓ on buybacks. Together that was 87% ✓ of the year's free cash flow. Target bought back no shares in the first half of 2026, and $8.3 billion was left under its $15 billion buyback plan at 1 August 2026 28.
🧮Ratios 101: what are Target's key financial ratios?
Ratios shrink Target's big numbers into easy comparisons, and they show a store that earns more per sale than most rivals but moves its goods more slowly. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Target's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 27.9% ✓, Target is above the 24.1% ✓ peer median. Costco keeps just 12.8% ✓.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Target's 4.9% ✓ is above the 4.0% ✓ peer median. Amazon keeps much more, at 11.2% ✓.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Target keeps 3.5% ✓ of sales as final profit, down from 4.7% ✓ in FY2020 and a little above the 3.1% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 22.9% ✓ is down from 30.2% ✓ in FY2020 and a little above the 20.4% ✓ peer median.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 6.2% ✓ is below 8.5% ✓ in FY2020 and the 8.6% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Target's yearly sales are 1.8x ✓ the value of everything it owns, below the 2.7x ✓ peer median. Costco turns its assets much faster, at 3.4x ✓.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Target holds about 59 ✓ days of stock, well above the peer median of 39 ✓. Costco holds just 27 ✓ days.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Target's 0.9x ✓ means it had $20.0bn ✓ of short-term assets against $21.2bn ✓ of bills due within a year. That matches the 0.9x ✓ peer median.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Target's 0.9x ✓ is well above the 0.3x ✓ peer median. Kroger borrows more, at 2.7x ✓.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covers interest 11.5x ✓, well below the 35.2x ✓ peer median but close to Walmart's 12.9x ✓.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Target turned profit into free cash at 0.8x ✓, the same as the 0.8x ✓ peer median but well below 1.8x ✓ in FY2020.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is only 0.3% ✓ of sales, close to the 0.4% ✓ peer median.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Target returned 66.4% ✓ of FY2025 profit as dividends and buybacks, up from 47.8% ✓ in FY2020 and above the 53.5% ✓ peer median.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Target's competitors?
Target competes with discount stores, warehouse clubs, supermarkets and online sellers. Walmart runs discount stores much like Target's 1819, and Costco sells similar goods with a paid membership 1314151617. Amazon meets Target online, in ads and in fast delivery 202, and Kroger in groceries 21222.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Target (TGT, FY2025 to Jan 2026) | Food, household essentials, clothes, home goods, toys and beauty in U.S. stores and online | $104.8bn | -1.3% | 4.9% | 2.7% |
| Costco (COST, FY2026 to Aug 2026) | Food, household essentials and general merchandise in stores and online, with a paid membership; 647 Costco warehouses in the U.S. and Puerto Rico at 30 August 2026 1314151617 | $303.2bn | 7.8% | 3.9% | 3.1% |
| Walmart (WMT, FY2026 to Jan 2026) | U.S. discount stores with pickup and same-day delivery; 4,611 Walmart U.S. stores against 1,995 Target stores at 31 January 2026 1819 | $713.2bn | 5.3% | 4.2% | 2.1% |
| Amazon (AMZN, FY2025) | Online and store shopping, a marketplace for outside sellers, ads, and paid fast-delivery memberships (Prime against Target Circle 360) 202 | $716.9bn | 11.7% | 11.2% | 1.1% |
| Kroger (KR, FY2025 to Jan 2026) | Groceries in U.S. stores, plus ads sold to the brands they stock; 2,697 Kroger supermarkets at 31 January 2026 21222 | $147.6bn | -0.1% | 1.3% | 2.3% |
Target lists a wide range of rivals: department stores, off-price stores, warehouse clubs, specialist chains, drug stores, supermarkets, brands that sell direct and online marketplaces 23. Costco, for its part, names Target among its significant U.S. general merchandise rivals 14.
🧭Target SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- About 30% of Target's merchandise sales come from its own and exclusive brands, such as Cat & Jack, Good & Gather, Threshold and up & up 2.
- Target's stores filled 97.6% of its merchandise sales in fiscal 2025, including online orders shipped from stores, picked up or delivered the same day, which Target says lowers fulfillment costs 225.
- Advertising revenue rose to $915 million in fiscal 2025, from $522 million in fiscal 2023 226.
- Target has paid a dividend every quarter since it went public in October 1967 27.
🩹 Weaknesses
- Comparable sales fell 2.6% in fiscal 2025, driven by a 2.2% drop in transactions 25.
- Sales changed by -1.3% ✓ a year over the three fiscal years to January 2026, so they shrank.
- Target says changes to its diversity, equity and inclusion programs, announced in 2025, drew a negative response and boycotts through 2025 24.
- Target holds about 59 ✓ days of stock, against a peer median of 39 ✓ days.
🚀 Opportunities
- Comparable sales rose 3.8% in the quarter to 1 August 2026, and comparable digital sales rose 8.7% 5.
- Same-day delivery grew more than 25% in the quarter to 1 August 2026 5.
- Target says it is still pursuing more tariff refund claims, which were not yet in its accounts at 1 August 2026 28.
- Target said it expected to open about 30 new stores in 2026 4.
⚠️ Threats
- About half of the goods Target offers come from outside the U.S., with China the largest source country 6.
- After the Supreme Court's February 2026 ruling on IEEPA tariffs, the U.S. added new worldwide Section 122 tariffs 29. Target lists them as a trade risk 29.
- Target usually pays import taxes on what it pays its suppliers, then claims refunds based on the price those suppliers paid 629. It says its import taxes could rise substantially if the U.S. ended this first sale method 629.
- Target and members of its board are defendants in combined shareholder lawsuits, which seek class-action status, over what it disclosed about environmental, social and governance risks 30.
🏰Does Target have a moat?
Why 3?
About 30% of Target's merchandise sales come from its own and exclusive brands, such as Cat & Jack and Good & Gather 2. Its name and Bullseye Design are registered trademarks 23. Target says changes to its diversity programs drew boycotts through 2025 24. Separately, comparable sales fell 2.6% in fiscal 2025, driven by a 2.2% drop in transactions 25.
Why 2?
Target Circle Card holders get 5% off nearly all Target purchases, plus free shipping on eligible online items and longer returns 2. The paid Target Circle 360 membership adds unlimited same-day delivery on eligible orders over $35 2. Still, Target lists many kinds of rivals, from warehouse clubs to online marketplaces 23.
Why 3?
At 31 January 2026, Target ran 1,995 stores with about 250.5 million square feet of selling space 22. It also had 70 supply chain buildings totaling 72.9 million square feet 22. Its stores filled 97.6% of merchandise sales in fiscal 2025, which Target says lowers fulfillment costs 225. Walmart has more stores, with 4,611 in the U.S. against Target's 1,995 at 31 January 2026 1819.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Target; grey dots are peers).
🔭What should you watch next?
Q3 2026 results
Target's call on its third-quarter results is set for 8:00 a.m. ET on Wednesday, 18 November 2026 37.
Next dividend payment
Target declared a quarterly dividend of $1.16 a share on 23 September 2026, payable on 1 December 2026 to shareholders of record on 11 November 2026 27.
New stores and capital spending
In its fiscal 2025 annual report, Target said it expected to open about 30 new stores and spend about $5 billion on capital projects in 2026 4.
📚Learn the words
❓Frequently asked questions about Target
How does Target make money?
Target makes almost all of its money selling goods in its stores and online. In FY2025, food and beverage brought in $24.1bn ✓ and household essentials $18.0bn ✓. Ads, a credit card deal and services add a little more.
How much profit does Target make?
Target made $3.7bn ✓ of net income in FY2025. That is about $4 ✓ for every $100 of sales.
Is Target's revenue growing?
Target's revenue is growing again after three years of small declines. Sales fell 1.7% ✓ in FY2025. In the four quarters to 1 August 2026, they rose 2.0% ✓ on the four quarters before.
Who is Target's CEO?
Michael Fiddelke became CEO on 1 February 2026 3233. He had been Target's chief operating officer from February 2024 and its chief financial officer from November 2019 to October 2024 3233. Brian Cornell, the previous CEO, became Executive Chair 3233.
How many Target stores are there?
Target had 2,019 stores at 1 August 2026, after opening 24 in the first half of the year 28. At 31 January 2026, California had 321 stores, the most of any state, and Vermont had one 22.
Who are Target's biggest competitors?
Target's rivals include Walmart in discount stores 1819, Costco in warehouse clubs 1314151617, Amazon online 202 and Kroger in groceries 21222.
Does Target pay a dividend?
Target has paid a dividend every quarter since October 1967 27. In June 2026 it raised the quarterly dividend to $1.16 a share, from $1.14 34. Target said 2026 was set to be its 55th year in a row of dividend increases 34.
How long do you have to return something to Target?
Target generally takes returns of national brands within 90 days and of its own brands within one year 1.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [7] [11] [10] [9] [8].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. Which of Target's categories brought in the most money in FY2025?
2. About how much of Target's merchandise sales come from its own and exclusive brands?
3. Which state had the most Target stores at 31 January 2026?
4. In which year was Target incorporated?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials come from the reports each company files with the SEC (10-K annual and 10-Q quarterly reports). Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Notes 1 and 2: fiscal year, what each merchandise category includes, returns, gift cards, advertising, TD credit card program, other revenue (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1 business: owned and exclusive brands, other revenue sources, Target Circle loyalty program, distribution (accessed 2026-10-29)
- Target (TGT) Form 10-K for fiscal year 2025, filed 2026-03-11 — revenue and cost of sales by product, segment and geography (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 7 management discussion: 2025 executive overview, business environment and tariffs, business transformation, 2026 capital expenditure and new store plans (accessed 2026-11-04)
- Target Corporation second quarter 2026 results release, August 19, 2026 (Form 8-K exhibit 99) — Second quarter 2026 sales, comparable sales, traffic, non-merchandise sales, EPS, tariff refunds, price cuts and updated 2026 guidance (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1 merchandise: six core categories, partners and in-store amenities, CVS agreement, Ulta Beauty agreement, global sourcing, seasonality, digital fulfillment options (accessed 2026-11-04)
- SEC EDGAR companyfacts: Target (TGT) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: KROGER CO (KR) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: AMAZON COM INC (AMZN) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: Walmart Inc. (WMT) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: COSTCO WHOLESALE CORP /NEW (COST) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: Target (TGT) — balance sheet at 2026-08-01 (accessed 2026-11-04)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 1 membership: annual fee, paid members, Executive members, renewal rates (accessed 2026-10-29)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 1 competition and intellectual property (trademarks, Kirkland Signature) (accessed 2026-10-29)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 1 general: start of operations, fiscal year, merchandise categories, warehouse ancillary and other businesses, gas stations, travel, digital sales (accessed 2026-10-29)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 2 properties: warehouses by segment, owned and leased, floor space (accessed 2026-10-29)
- Target Corporation Form 10-K for fiscal year 2025 — Item 1 and Item 7: store count, Target Circle 360 paid membership, merchandise categories (accessed 2026-10-29)
- Target Form 10-K for fiscal 2025 (year ended January 31, 2026) — Store count, merchandise categories, same-day fulfillment (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Item 1 general, development and segments: headquarters, history, fiscal year, revenue, store counts, segment offerings, Sam's Club fees (accessed 2026-10-29)
- Amazon Form 10-K for fiscal year 2025 — Item 1: online and physical stores, third-party sellers, advertising services, Amazon Prime (accessed 2026-11-04)
- Kroger Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1: supermarket count and Kroger Precision Marketing retail media (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 2 properties: stores, retail square feet, supply chain facilities (accessed 2026-10-29)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1 competition and intellectual property (trademarks) (accessed 2026-10-29)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1A risk factors: reputation, 2025 consumer boycotts (accessed 2026-10-29)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 7 MD&A: comparable sales, traffic, sales by channel and fulfillment channel (accessed 2026-10-29)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Note 2 net sales: advertising revenue and credit card profit sharing (accessed 2026-10-29)
- Target Corporation Declares Regular Quarterly Dividend (news release, September 23, 2026) — Fourth quarter 2026 dividend: amount, record and payment dates, 237th consecutive dividend (accessed 2026-11-04)
- Target Corporation Form 10-Q for the quarter ended August 1, 2026 — Tariff refunds note, store data, share repurchase program, dividends, debt repayment, legal proceedings (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1A risk factors: trade policy, tariffs and the first sale declaration program (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 3 legal proceedings: securities class actions (accessed 2026-11-04)
- SEC EDGAR companyfacts: Target (TGT) — quarterly 10-Q/10-K facts (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Item 1 human capital (team member count, starting wage range) and executive officers (accessed 2026-11-04)
- Target Corporation Form 8-K filed February 5, 2026 — CEO transition: Michael Fiddelke CEO from February 1, 2026; Brian Cornell Executive Chair (accessed 2026-11-04)
- Target Corporation Increases Quarterly Dividend by 1.8 Percent (news release, June 11, 2026) — Quarterly dividend raised to $1.16 per share; 55th consecutive year of annual dividend increases (accessed 2026-11-04)
- Target Corporation Form 10-K for fiscal year 2025 (year ended January 31, 2026) — Cover and Item 1 overview: headquarters address, incorporation, single segment, strategy, giving 5% of profit since 1946 (accessed 2026-11-04)
- Target Corporation first quarter 2026 results release, May 20, 2026 (Form 8-K exhibit 99) — First quarter 2026 comparable sales, traffic and digital sales (accessed 2026-11-04)
- Target Corporation investor events and presentations — Date of the Q3 2026 earnings conference call (accessed 2026-11-04)