Trending Now - Retailers Target and Best Buy Report Mixed Sales Trends

WHO:

Target Corporation, based in Minneapolis

Michael Fiddelke, CEO of Target (took over in February 2026)

Neil Saunders, managing director of GlobalData

Joe Feldman, senior managing director and assistant director of research at Telsey Advisory Group

Best Buy, consumer electronics retailer

Corie Barry, CEO of Best Buy

Matt Bilunas, Chief Financial Officer of Best Buy

WHAT:

Target reported earnings of $2.30 per share, totaling $1.05 billion, for the three months ended January 31, 2026, down from $2.41 per share, or $1.10 billion, a year earlier.

Adjusted earnings per share for Target were $2.44.

Target's sales fell 1.5% to $30.45 billion for the quarter, with full-year sales declining nearly 2% to $104.78 billion.

Comparable-store sales at Target fell 2.5% in the most recent quarter.

Analysts expected Target to report $2.16 per share on sales of $30.46 billion.

Target forecasts net sales to rise about 2% for 2026, to roughly $106.88 billion, and expects earnings per share in a range of $7.50 to $8.50.

Best Buy's revenue for the fiscal fourth quarter was $13.81 billion, missing expectations of $13.88 billion.

Best Buy's adjusted earnings per share for the fourth quarter were $2.61, exceeding expectations of $2.47.

Best Buy's net income for the quarter was $541 million, or $2.56 per share, up from $117 million, or 54 cents per share, in the year-ago quarter.

Best Buy's annual revenue rose to $41.69 billion from $41.53 billion in the prior fiscal year.

Comparable sales at Best Buy dropped 0.8% in the fourth quarter.

WHERE:

Target's headquarters is located in Minneapolis, Minnesota.

Best Buy operates retail locations across the United States.

WHEN:

Target's financial results are for the three months ended January 31, 2026.

Best Buy's financial results are for the fiscal fourth quarter ended January 31, 2026.

Best Buy's fiscal year ended in January 2026.

WHY:

Target's sales decline is attributed to customer complaints about out-of-stock items, untidy stores, and increased competition from rivals like Walmart.

Best Buy's slower sales are linked to price-sensitive consumers, a slower housing market, and less tech innovation.

HOW:

Target is implementing a turnaround strategy under CEO Michael Fiddelke, which includes reshuffling the leadership team and increasing in-store staffing.

Best Buy is diversifying its supply chain and negotiating costs with vendors to manage higher tariffs on imported electronics.

Target Corporation reported earnings of $2.30 per share for the three months ending January 31, 2026, a decline from $2.41 per share a year earlier, with sales dropping 1.5% to $30.45 billion. Meanwhile, Best Buy's revenue for the same quarter was $13.81 billion, falling short of expectations, although its adjusted earnings per share of $2.61 exceeded forecasts. Both companies are facing challenges, with Target addressing customer complaints and competition, while Best Buy is adapting to price-sensitive consumers and a slower housing market.