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Tariff refunds of nearly $1B help Target beat Street in strong Q2

Target Corp. cited the return of money it paid in tariffs and the continuing success of its turnaround program as helping drive impressive second quarter results.

The discount giant reported net earnings of $1.88 billion, double $935 million from the same quarter in fiscal 2025. Adjusted earnings per share rose to $4.11 from $2.05, significantly beating Wall Street estimates of $2.33 per share.

Target credited its receipt of $994 million in pretax refunds on tariffs paid on imported products under the International Emergency Economic Powers Act, or IEEPA, as boosting its net earnings by $752 million and its adjusted EPS by $1.65.

Tariff refunds of nearly $1B help Target beat Street in strong Q2 | Chain Store Age

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