The company said fourth-quarter Net Sales declined to $30.9 billion, a 3.1% decrease, and operating income declined to $1.5 billion, a 21.3% decrease. Full-year Net Sales declined to $106.6 billion, a 0.8% decrease, with 2023 consisting of 14 weeks and Q4 consisting of 53 weeks.

1. 01

   The company said fourth-quarter Net Sales declined to $30.9 billion, a 3.1% decrease, and operating income declined to $1.5 billion, a 21.3% decrease. Full-year Net Sales declined to $106.6 billion, a 0.8% decrease, with 2023 consisting of 14 weeks and Q4 consisting of 53 weeks.

2. 02

   The company reported fourth-quarter GAAP and Adjusted diluted EPS of $2.41, compared with $2.98 in the prior year, and full-year EPS of $8.86, down 0.9% from $8.94. There were no Adjusted EPS adjustments in any period presented.

3. 03

   The company said full-year gross margin rate was 28.2%, compared with 27.5% in 2023, and SG&A expense rate was 20.6%, compared with 20.0%. It cited product cost improvements and growth in advertising and marketplace revenues as factors in the gross margin rate.

4. 04

   The company said it expects full-year 2025 Net Sales growth around 1% and GAAP and Adjusted EPS of $8.80 to $9.80. Target cited ongoing consumer uncertainty and a small decline in February Net Sales, and said it expects meaningful year-over-year profit pressure in Q1 relative to the remainder of the year.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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