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Target Raises Outlook After $752 Million Tariff Refund

8/20/2026

37 6 Full Breakdown

Summary

Target Boosts Profit

Target Corp. reported a second-quarter profit boost from a $752 million tariff refund.
Target posted $26.54 billion net sales, up 5.3% YoY, while comparable sales rose 3.8% above estimates.
CEO Michael Fiddelke called the quarter an “important step forward” in the turnaround plan.
CFO Jim Lee said Target will keep investing in price cuts after the refund.
Target raised full-year net-sales growth outlook to about 5% and EPS range to $9.90-$10.90.

Summary

Supreme Court Blocks

The U.S. Supreme Court declared IEEPA tariffs unlawful in February 2026.
Consumer groups sued Costco and Nike, demanding refunds for shoppers overcharged by the tariffs.
FedEx reported $800 million of IEEPA refunds sitting in its cash balance for customer reimbursements.
Apple said it will invest its tariff-refund gains in expanding domestic manufacturing.

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Target Boosts Profit

Target Corp. reported a second-quarter profit boost from a $752 million tariff refund.
Target posted $26.54 billion net sales, up 5.3% YoY, while comparable sales rose 3.8% above estimates.
CEO Michael Fiddelke called the quarter an “important step forward” in the turnaround plan.
CFO Jim Lee said Target will keep investing in price cuts after the refund.
Target raised full-year net-sales growth outlook to about 5% and EPS range to $9.90-$10.90.

1 / 2