On November 19th Target reported largely in-line Q3 2025 results that remained negative across key financial metrics including net sales (-1.5%), and comparable sales (-2.7%). While Q3 results proved there is no quick fix to Target’s challenges, they are taking some near-term decisive action including the elimination of 1,800 HQ roles and a planned $1B increase in capital expenditures in 2026 to support store growth, remodels, and technology upgrades.
The earnings call served as a definitive reinforcement of incoming CEO Michael Fiddelke’s three strategic priorities: 1) Reassert Target’s authority in design-led merchandising, 2) Elevate the guest shopping experience across both digital and physical channels, and 3) Accelerate the use of technology to improve decision-making and operations.
Sales volatility during the quarter and continued pressure on consumer sentiment and discretionary spending suggest a muted holiday season for Target.
Download Harvest Group’s full earnings recap with unique takeaways for suppliers here: