Target Q3 2024 Results
Q3 top-line results reflect increased traffic, continued growth in our beauty and frequency categories and a strong digital performance.
We’re moving ahead with a continued focus on our strategy and investments to enhance the guest experience.
+0.3%
Comparable Sales
Traffic growth
reflects more than 10 million incremental transactions compared to Q3 2023.
>6%
Thousands of must-have toys with more than half priced under $20.
Our strategic investments in growth initiatives are on track for the year, expected at about $3 billion.
In Q3, we opened 13 new stores and our eleventh sortation center in Detroit and invested in dozens of existing stores.
1. 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.
2. Prices are pre-tax. Offer not valid in Alaska or Hawaii. Bundle pricing effective 11/3. All earnings per share figures refer to diluted EPS.
Statements in this document about our future financial and operational performance, our expected strategic investments, and our strategy for growth are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please see our Q3 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, November 20, 2024.
growth in beauty
Strength across our digital channel
Our fulfillment options offered speed, ease and convenience:
We’re ready to deliver an “only-at-Target” holiday experience packed with newness, value and inspiration.
On-trend and affordable apparel and accessories, including party styles, family sleepwear and performance wear.
Our Thanksgiving meal2 for $20 ($5 less than last year) makes preparations easier and more affordable.
Thousands of new home décor items with more than half available only at Target.
-1.9%
Store
Comparable Sales
+10.8%
Digital
Comparable Sales
+2.4%
Traffic
$1.85
GAAP EPS
Drive Up saw low-double-digit growth.
Same-day delivery with Target Circle 360 grew nearly 20%.
Target Circle Week delivered
The October event was our biggest yet, driving sales, traffic and Target Circle member growth.
2,000 additional everyday price reductions¹
on food and beverage, essentials and giftable items.
Nearly 3 million
new Target Circle members enrolled in Q3.
Growth in our frequency categories
Strength in food and beverage and essentials driven by newness and strong value across the assortment.
Nearly 700 new food, beverage and entertaining items.
Favorite Day and Good & Gather seasonal flavors
Expanded assortment from Marks & Spencer
Exclusive Thanksgiving home collection from John Derian
Thrilling Black Friday exclusives
Season-long deals and savings
We’re dropping new holiday deals each day and every week with exclusive deals for Target Circle members. Plus, a new Early Black Friday Sale in early November offered thousands of deals up to 50% off.
More Black Friday and Cyber Monday deals coming soon.
Magical shopping experiences
Guests can explore an immersive, joyful and inspiring holiday experience across all the ways they love to shop Target.
New GenAI-powered technology
is adding convenience to our online shopping experiences.
We’re improving the speed of our fulfillment services and were the first retailer to offer the ability to navigate to a store for a curbside order through Apple CarPlay.
Guests can explore an immersive, joyful and inspiring holiday experience across all the ways they love to shop Target.
Festive fun to discover in stores
A personalized Wish List
Magical ad campaigns
“Taylor Swift | The Eras Tour Book” and “The Tortured Poets Department: The Anthology” CD and vinyl arrive only in our stores on Black Friday morning.
Available on Target.com starting November 30.
