- Target reported its second consecutive quarter of comparable-sales growth, with comparable sales up 3.8%, store visits up 3.6%, and online sales up 8.7%.
- A $994 million tariff refund contributed materially to Target's profit beat after the US Supreme Court ruled that President Trump exceeded his authority in imposing the tariffs.
- Target raised its FY sales-growth forecast to about 5% from 4%, its second increase this year.
- Walmart also recorded nearly $2.9 billion in similar tariff refunds during the quarter and used the funds for price cuts, indicating a temporary benefit across large retailers.