Target Q4 2024 Highlights
Target’s Q4 results benefited from higher traffic, strong digital sales and improved discretionary performance.
+1.5%
Comparable Sales
Traffic increase
drove Q4 comp sales growth
Opened 23 new stores and invested in dozens of existing stores
Opened several new supply chain facilities, including two new food distribution centers, a flow center and other investments in our network
Scaled our Target Plus marketplace offerings, delivering more than $1 billion in gross merchandise value for the first time in 2024, up 35% from last year
Drove personalized connections through Roundel, our digital advertising business, which saw growth in the mid-teens in 2024 and delivered nearly $2 billion in value
Continued tech investments, including GenAI-powered solutions to make working and shopping at Target even easier
Declared our 230th consecutive dividend payment since October 1967, and resumed our share repurchase program in 2024
Record-setting sales and strong traffic during Black Friday and Cyber Monday as millions of guests shopped Target.
+8.7%
Digital
Comparable Sales
+2.1%
Traffic
$2.41
GAAP EPS
Continued strength in digital
was led by more than 25% growth in Same-day Delivery powered by Target Circle 360.
new members joined the Target Circle program in 2024, with members spending three times more than non-members.
>13 million
Comp sales acceleration across discretionary categories in Q4 including apparel, toys and sporting goods as compared to Q3.
APPAREL
TOYS
SPORTING GOODS
Throughout 2024, we invested nearly $3 billion in our strategy and capabilities to drive long-term growth.
1. Based on data from Target Corporation (Individual Units Sold)
2. Based on data from Circana, LLC, BookScan®, Total US Print Book Sales, Jan. 1, 2024 – Dec. 5, 2024
3. Pricing, promotions and availability may vary by location and at Target.com. This program excludes Alaska, Hawaii and the borough of Manhattan. Products mentioned may not be available at Target.com or in all stores.
Statements in this document about our future financial performance and strategy for growth are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please see our Q4 and full-year 2024 earnings release and our SEC filings for risks and uncertainties that could cause Target’s results to differ materially from what was expected as of the date of this document, March 4, 2025.
All earnings per share figures refer to diluted EPS.
Consumers shopped across our affordable and on-trend assortment for their holiday must-haves and everyday essentials.
Marketing magic
Our popular Target Santa campaign had more than 70 million social mentions and was one of the top searches on TikTok the week of Black Friday.
Our GenAI-powered Bullseye Gift Finder delivered personalized kids' gift ideas with a few clicks.
Our largest toy assortment yet offered more than half of the items under $20, with Q4 toys comp sales growing in the mid-single digits.
As guests enjoyed on-trend options from brands like All in Motion and Wild Fable, Q4 apparel comp sales grew more than 3%.
Affordable options like our Thanksgiving meal for $20 resonated as Q4 food and beverage and essentials comp sales grew in the low single digits.
Guests responded to newness like Fine’ry fragrances and Being Frenshe hair care as Q4 beauty comp sales grew in the mid-single digits.
Black Friday exclusives
Guests lined up for our exclusive Taylor Swift products. The official “Taylor Swift | The Eras Tour Book” sold nearly 1 million copies in its first week1, making it the highest-selling new release book of 2024 upon release2.
Value for every moment
>2,000 additional everyday price reductions3 brought the total to more than 10,000 total price cuts in 2024, offering affordability on top of our already low everyday prices.
