Target's Q4 earnings report released: revenue fell 3.1% to $30.9 billion

It is learned that on March 4, the US retail giant Target released its fourth quarter and full-year financial report for 2024. The report showed that Target's fourth-quarter revenue was US$30.9 billion, a year-on-year decrease of 3.1%.

Here's a summary of Target's fourth-quarter financial results:

① Revenue was US$30.9 billion, down 3.1% year-on-year.

② Operating income was US$1.5 billion, a year-on-year decrease of 21.3%.

③The operating profit margin was 4.7%, compared with 5.8% in the same period last year.

④The gross profit margin was 26.2%, compared with 26.6% in the same period last year.

⑤Comparable sales increased by 1.5%, offline sales decreased by 0.5%, and online sales increased by 8.7%.

Here's a summary of Target's financial results for 2024:

① Revenue was US$106.6 billion, down 0.8% year-on-year.

②Operating revenue was US$5.6 billion, down 2.5% year-on-year.

③The gross profit margin was 28.2%, compared with 27.5% last year.

④Comparable sales increased by 0.1%.

⑤Net interest expense was US$410 million, compared with US$500 million last year.

Target Chairman and CEO Brian Cornell said the fourth quarter results were mainly due to the strong performance of beauty, apparel, entertainment, sporting goods and toys. Online sales increased by 8.7%, and the same-day delivery service provided by Target Circle 360 ​​increased by more than 25% compared with the same period last year.

Target reported record Valentine's Day sales, but weak revenue for the month as unusually cold weather in the U.S. hurt apparel sales and lower consumer confidence hurt its overall discretionary merchandise assortment. Target Chief Financial Officer Jim Lee expects the trend to ease as temperatures rise across the country, and consumer demand may pick up during seasonal holidays such as Easter.

Given the continued consumer uncertainty, a slight decline in revenue in February, uncertainty about tariffs and the expected timing of certain costs within the fiscal year, Target expects first-quarter earnings to face significant year-over-year pressure compared to the rest of the year. For the full year 2025, Target expects revenue growth of approximately 1%, comparable sales growth to be roughly flat, operating margin to be slightly higher, and an effective tax rate of 23% to 24%.

Author ✎ Rayna/

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