Target hikes outlook as sales rebound and huge tariff refund boosts bottom line

Target reported second-quarter results that exceeded analyst expectations and prompted the retailer to increase its full-year guidance. Net sales climbed 5.3% compared to the prior-year period, while comparable sales grew 3.8%, surpassing Wall Street estimates of 2.4%. The company noted strength across multiple product categories.
A significant portion of Target’s earnings improvement came from tariff refunds. The company received a $752 million boost to net earnings, equivalent to $1.65