On August 20th Target reported sequential improvement in Q2 2025 topline results, with comp sales down 1.9% and net sales down 0.9% to $25.2B. Management highlighted select subcategory bright spots, but those included some one-time launches in hardlines/FUN101, digital growth continues to lag rest of market, and while Target has gained more control over tariff-related disruptions, its exposure remains elevated compared to key competitors.
The big news of this quarter is the much-anticipated CEO succession plan, with current COO and Target veteran Michael Fiddelke tapped to assume the role in February 2026, outlining a ‘strategic shift’ focused on style authority, operational speed, and guest experience.
While results showed modest improvement on a weak base, Q2 performance and the new CEO announcement failed to inspire investor confidence, sending the stock down nearly 7% mid-day.
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