Target Corporation (TGT) FY2026 10-K Annual Report
Target Corporation (TGT) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Mar 11, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Target Corporation FY2026 10-K Analysis
Business Overview
- • Single-segment omnichannel retailer; stores fulfill >97% of total Merchandise Sales, serving as both destinations and fulfillment hubs
- • Net Sales declined to $104.8B in fiscal 2025, down from $106.6B in 2024 and $107.4B in 2023 — three consecutive years of contraction
Management Discussion & Analysis
- • Net sales $104.8B, down $1.8B (-1.7% YoY); comparable sales -2.6% on -2.2% traffic and -0.4% avg transaction
- • Operating margin 4.9% vs 5.2% prior year; gross margin 27.9% vs 28.2%; adjusted operating margin 4.6% vs 5.2%
Risk Factors
- • IEEPA tariff ruling (Feb 2026 Supreme Court) invalidated tariff authority; replacement Section 122 tariffs imposed, with ~50% of merchandise sourced outside U.S. and China as largest single import source
- • AI-enabled competitive disruption risk: rivals deploying AI for consumer-facing platforms and internal ops; lowered barriers enabling new entrants to retail market
Target Corporation FY2026 Key Financial MetricsXBRL
Revenue
$104.8B
▼ -1.7% YoY
Net Income
$3.7B
▼ -9.4% YoY
Operating Margin
4.9%
▼ -34bp YoY
Net Margin
3.5%
▼ -30bp YoY
ROE
22.9%
▼ -497bp YoY
Total Assets
$59.5B
▲ +3.0% YoY
EPS (Diluted)
$8.13
▼ -8.2% YoY
Operating Cash Flow
$6.6B
▼ -10.9% YoY
Source: XBRL data from Target Corporation FY2026 10-K filing on SEC EDGAR. All figures in USD.
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