Target Corporation has announced its financial results for the first quarter of 2025. The company's net sales reached $23.8 billion, experiencing a decline from $24.5 billion in the same period last year. Comparable sales decreased by 3.8%, with store sales declining by 5.7%, though digital sales grew by 4.7%. Notably, same-day delivery saw a significant increase of 36%, driven by Target Circle 360. The first quarter operating income rose to $1.5 billion, a 13.6% increase compared to the previous year. The GAAP earnings per share $(EPS)$ stood at $2.27, up from $2.03 last year, while the adjusted EPS, excluding gains from litigation settlements, was $1.30. Looking ahead, Target anticipates a low-single digit decline in sales for fiscal 2025. The company projects a GAAP EPS of $8.00 to $10.00 and an adjusted EPS expected to be approximately $7.00 to $9.00. Target also announced the launch of a multi-year acceleration office, led by Michael Fiddelke, to enhance the speed and execution of its strategic initiatives. This move aims to build more agility into operations and support long-term profitable growth.
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