Target (TGT) Stock Jumps 4% After Earnings Beat and $994M Tariff Refund Boost
TLDR
- Target posted Q2 net sales of $26.5B, up 5.3% year over year, beating estimates of $25.5B
- EPS doubled to $4.11, crushing the $2.32 estimate, boosted by a $1.65 tariff refund benefit
- Target received a $994M pre-tax tariff refund following a Supreme Court ruling against Trumpโs import tariffs
- Comparable sales rose 3.8%, with digital comparable sales up 8.7%
- Full-year EPS guidance raised to the high end of $9.90-$10.90, up from the prior $7.50-$8.50 range
Target (TGT) stock rose 4.28% to $159.00 on Wednesday after the retailer posted a strong second quarter earnings beat and revealed it had received nearly $1 billion in government tariff refunds.
Net sales came in at $26.5 billion, up 5.3% year over year and well ahead of the $25.5 billion estimate. Diluted EPS hit $4.11, double last yearโs figure and nearly twice the $2.32 analyst estimate.
The company received a $994 million pre-tax tariff reimbursement after a Supreme Court ruling declared a wave of President Trumpโs import tariffs unlawful. That refund pushed Q2 operating income to $2.6 billion, up from $1.3 billion a year ago.
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