Target Q2 comps +3.8%; digital +8.7%, tariff lifts EPS

Comparable sales rose 3.8% in Target’s second quarter, the three months ended Aug. 1, 2026, with digital comps up 8.7% on heavier same‑day delivery activity (AP). Net sales increased 5.3% to $26.54 billion for the period (AP).

Data Snapshot

Metric	Current	Previous	Change	Period	As of	Source
Comparable sales (total)	3.8%	—	—	second quarter	three months ended Aug. 1, 2026	Associated Press (AP)
Comparable store sales	2.7%	—	—	second quarter	three months ended Aug. 1, 2026	Associated Press (AP)
Digital comparable sales	8.7%	—	—	second quarter	three months ended Aug. 1, 2026	Associated Press (AP)
Net sales	$26.54 billion	—	rose 5.3%	second quarter	three months ended Aug. 1, 2026	Associated Press (AP)
Net income / EPS (reported)	$1.87 billion, or $4.11 per share	$935 million, or $2.05 per share (year‑ago)	—	three months ended Aug. 1, 2026	three months ended Aug. 1, 2026	Associated Press (AP)
Tariff refund benefit	$994 million	—	—	second quarter	three months ended Aug. 1, 2026	Associated Press (AP)

Same‑day delivery drives digital outperformance

Digital comparable sales grew 8.7%, driven by increased same‑day delivery activity (AP). Comparable store sales increased 2.7% for the quarter, a slower clip than the online channel (AP). Digital outpaced the aisles by a wide margin. Same‑day drove it. Both channels feed into the company’s total comparable sales measure, which rose 3.8% in the period. Comparable sales read demand; they do not, on their own, explain margin or profit.

Earnings lifted by $994 million tariff refund

The bottom line’s swing factor wasn’t comps — it was a $994 million tariff refund that Target said contributed $1.65 to earnings per share (AP).

Reported net income was $1.87 billion, or $4.11 per share, for the three months ended Aug. 1, outpacing last year’s $935 million, or $2.05 per share (AP). The quarter included the tariff refunds of $994 million, which Target said contributed $1.65 in earnings per share (AP). That is a discrete boost — helpful for EPS optics, separate from operating momentum. Reading the EPS jump as proof of a broad profitability surge would conflate demand recovery with a refund. No adjusted EPS here; just the disclosed $1.65 lift.

Full‑year targets move up

Target raised its full‑year net sales growth outlook to about 5% and set a full‑year earnings‑per‑share range of $9.90 to $10.90 (AP). Full‑year EPS range: $9.90 to $10.90.

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