Target Corp. posted second-quarter revenue of $25.21 billion, edging past analysts’ expectations but falling 0.9% from a year earlier as comparable sales slipped 1.9%. Adjusted earnings dropped 20% to $2.05 a share yet also beat forecasts. The retailer said traffic and store sales improved versus the prior quarter while digital comparable sales grew 4.3%. Management reiterated guidance for full-year sales to decline by a low-single-digit percentage and maintained its adjusted earnings outlook of roughly $7 to $9 a share despite continued margin pressure from higher markdowns and tariffs. Alongside the results, the board appointed Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as chief executive on Feb. 1, 2026, signalling continuity as the company heads into the back-to-school and holiday periods. Target shares fell about 8–10% in pre-market trading after the earnings release. Off-price rival TJX Companies reported stronger numbers, with fiscal second-quarter revenue up 7% to $14.4 billion and earnings of $1.10 a share, both ahead of estimates. Comparable sales rose 4%, led by gains at Marmaxx and HomeGoods. The company forecast third-quarter earnings of $1.17–$1.19 a share and lifted its full-year comp-sales target to 3% while keeping its EPS view at $4.52–$4.57. TJX shares rose roughly 5% in early New York trading.