The companies on the Global 500 employ 70.2 million people, and their revenue represents more than one-third of the world’s GDP.

Fortune Global 500

With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

The 300 companies on this year’s list brought in over $12.5 trillion in revenue for the latest 12 months, with the median revenue figure at $24 billion.

America's Most Innovative Companies

This year's 100 Best Companies to Work For are rebuilding the social contract at work so people feel supported, trusted, and future-ready as they undergo that transition.

100 Best Places to Work 2026_Target Corporation

Employees say:"I believe Target is a great place to work because the management genuinely values employee input and encourages us to share ideas for improving the store. I’ve seen firsthand how suggestions are taken seriously, leading to initiatives like improved scheduling flexibility and enhanced training programs. This supportive environment, combined with competitive benefits, makes me feel truly valued and motivated to excel every day."

Fortune 100 Best Companies to Work For

See which workplaces made this year's list.

2025_GPTW_Retail_Large_Target Corporation_US1__685d56f6023fa8a02634236e_3

Best Large Workplaces in Retail

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

The top companies on our list have one thing in common: Staff largely trust leadership to see them as well-rounded people and reward them for a job well done.

GPTW_100BestCompaniesToWorkFor_2025-Target Corporation_US1__20241210214006_3

Employees say: "The sense of connection this company has with its employees is truly unique. The level of care that Target shows through benefits offerings, community involvement, and developmental investment is unparalleled in the industry."

The 300 companies on this year’s list brought in over $12.6 trillion in revenue for the latest 12 months, with the median revenue figure at $22 billion.

Leaders in all industries rely more than ever on Big Tech—and appreciate the giants that deliver, at scale, without drama.

World's Most Admired Companies

GPTW Retail Large 2024-Target Corporation_US1__20240712204823_4

Employees say:"I love the culture of Target. Always have. I worked for Target 25 years ago as a TL then came back as an ETL. I always took the culture and values I learned at Target to other places I worked. As an ETL I work a lot of hours and a lot of work is expected but never have I wavered on feeling proud to work for this company. I enjoy coming to work, seeing my co-workers and most days, feel accomplished in the work that I complete. Thank you for allowing me to have a career that has provided me so much joy!"

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

Industries included in the sector are automotive retail, general merchandisers, internet retail, and specialty retail.

Fortune Sector Leaders: Retailing

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

Creating a more empathetic workplace looks like staying loyal to workers, emphasizing D&I initiatives, and paying well.

100 Best Companies 2024-Target Corporation

Down 39 spots from last year’s list, retail behemoth Target weathered nine store closures in September due to “<a href="https://www.axios.com/2023/09/26/target-stores-closing-list-2023-theft-crime">theft and organized retail crime</a>,” which came a few months after it pulled Pride merch from its shelves following conservative customer backlash, which the company said <a href="https://www.npr.org/2023/08/16/1194176045/target-sales-lgbtq-pride-bud-light">impacted sales</a>. At the same time, Target expanded its Target Forward strategy to offer benefits and career growth opportunities, physical and mental health support, and family support. It also expanded access to health benefits for hourly paid employees working 25 hours per week, with 20% more employees becoming eligible for the benefits. Target also told Fortune that CEO <a href="https://www.google.com/search?sca_esv=dea8dac3f91dbfe3&amp;rlz=1C5GCCM_en&amp;sxsrf=ACQVn09I5zSQpBwdjS7I4tVhL87Vj3cu8g:1709732397695&amp;q=Brian+Cornell&amp;stick=H4sIAAAAAAAAAONgVuLSz9U3MC4vL8ozesRoyi3w8sc9YSmdSWtOXmNU4-IKzsgvd80rySypFJLgYoOy-KR4uJC08Sxi5XUqykzMU3DOL8pLzckBAPS_UdhWAAAA&amp;sa=X&amp;ved=2ahUKEwiVx-bB4d-EAxVSrYkEHRqeCjkQzIcDKAB6BAgfEAE">Brian Cornell</a> frequently travels to stores and supply-chain facilities unannounced to familiarize himself with employees’ work. He meets with summer interns and hosts monthly meets with officers, which have hundreds of employees in attendance. &nbsp;The company continues to invest in increasing employee wages. In 2017, the retailer announced a path to raise its starting wage to $15 an hour, and it reached the goal in 2020. In 2022, the company set starting wages with a range of $15 to $24 an hour for hourly employees, depending on the market. &nbsp;Target’s Dream to Be program gives part- and full-time employees in the U.S. access to tuition-free bachelors’ and associate degrees and certificates from 250 programs across 40 schools. The program also provides up to $10,000 per year for master’s degrees available within its catalog. Among enrollees, turnover is 70% lower, and promotions are three times higher.

The 200 companies on this list are transforming industries from the inside out.

The 26th edition of the list shows how much esteem Big Tech giants command among other business leaders.

WMA-2024-Target

The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

WMAC 2023-Target

Building a culture of trust and transparency is essential to help everyone thrive, especially in rocky economic times.

100 BEST COMPANIES 2023-Target

As one of the world’s leading retailers, Target is committed to changing the world, starting with its employees. 
<ul> 
 	<li>Target sets aggressive goals for investing in diverse employees and suppliers. Between 2019 and 2021, they met or exceeded their goals, including increasing promotions of people of color by 62% and spending $1.78 billion with diverse suppliers.</li> 
 	<li>The Target Forward commitment prioritizes sustainable brands, eliminating waste, and boosting opportunity and equity.</li> 
 	<li>The company recently launched a debt-free education assistance program, offering financial aid for full-time and part-time team members at stores, supply chain facilities, and headquarter locations who are seeking degrees.</li> 
 	<li>Target <a href="https://www.cnbc.com/2022/06/28/target-will-cover-employees-travel-to-other-states-for-abortion.html">covers travel costs for employees seeking abortions</a> in another state.</li> 
 	<li>“I think it is unique that Target invites people to bring their authentic self to the workplace. I assist with the hiring process, so I have often gotten the questions like, ‘I have piercings (or tattoos or hot-pink hair),’ and I am happy to say that you don’t have to cover that up,” noted one employee. “And in more recent years, I can proudly tell people who are trans or nonbinary that they can be known and accepted by their preferred name and pronouns.”</li> 
</ul>

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

GLOBAL-500-2023-Target

The 300 companies on this list are transforming industries from the inside out.

GPTW 2023 Best Workplaces Retail Large Target Corporation_3

Employees say: 
 
"I really feel that the current leadership has made strong effort to bring out the best aspects of our culture and build on them to reinforce their importance. I have been here almost 16 years, and the friends I work with are the main reason I have stayed so long. How Target managed through the pandemic and shifted our working style to protect the team then and transition us to the hybrid model was a very clear demonstration of our culture."

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500 2023-Target

The retailer and grocer is the fifth-largest employer among Fortune 500 companies. While it operates nearly 2,000 U.S. stores, about 18% of its sales now originate online. 
<ul> 
 	<li>As consumers pulled back on discretionary spending in 2022, Target found itself with an inventory surplus that pushed it to slash prices. Partly as a result, profits fell 60% from fiscal year 2021, to $2.8 billion.</li> 
 	<li>After the U.S. Supreme Court’s June 2022 decision overturning Roe v. Wade, Target was among the companies declaring they would pay for employees to travel out of state to access abortion services if necessary. That announcement drew blowback from conservatives. On another culture-war front, Target’s decision in May 2023 to move Pride-themed merchandise to less prominent positions in some stores, in response to threats and angry reactions from customers, was sharply criticized by LGBTQ+ rights activists.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

WMAC-2022-19-Target

When it comes to supporting employees, flexibility, diversity, and a few extra paid days off go a long way.

100 Best 2022-Target

Throughout the pandemic, Target rolled out new benefits and programs to help its frontline workers, including awarding $200 bonuses to hourly full- and part-time store employees in July 2021. The retailer is continuing its commitment to strong teams and a supportive workplace by bolstering its minimum wage and health care benefits. In February, Target expanded its starting wage range by $9 per hour in an initiative that will roll out regionally throughout 2022. Depending on the location and position, Target will now pay a starting rate between $15 and $24 per hour. And beginning in April, Target store employees who work an average minimum of 25 hours a week will have the option to enroll in the company’s health insurance plan—an expansion that makes 20% of the retailer’s workforce newly eligible for comprehensive health care benefits.

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

Raleigh Six Forks Target Store Photoshoot

Employees say: 
 
“Having been a Target Team Member for a long time, there is no place else I would rather work at. This is my second family and we have been through everything together. The people are what keep me here! Just the different walks of life, personalities and cultures are what make it special.”

This year’s Fortune 500 marks the 68th running of the list.

F500 2022 Target

The internet’s favorite department store chain continued to thrive in 2021, as profit increased by 59% and revenue by 13.3% compared to the year before and shoppers’ behavior settled into a new normal. Drawing in customers has presented less of a problem for Target than recruiting and retaining employees in a tight labor market. Investing $300 million in initiatives to expand pay and benefits, Target announced in August 2021 that it would offer to pay college tuition and associated expenses for more than 340,000 full- and part-time employees. And in March 2022 the chain said that it would raise its minimum wage (depending on the role) from $15 an hour to as much $24 hourly.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

WMAC 2021-17-Target

Our 2021 list of the 100 best companies to work for, as ranked by their employees. See which companies made the list.

100-best-companies-2021-14-Target-Corporation

Target was one of the pandemic’s big retail winners, with 2020 revenue rising 20%. But the company understood it could not have reached that sales level without its employees, and was among the first to provide a $2 an hour pay increase in the hectic first months of the pandemic. The discount retailer also accelerated its minimum wage increase to $15, putting some rivals, notably Walmart and Kroger, on the defensive. And acknowledging the physical and mental health risks to its workers, Target allowed employees 65 and older or pregnant additional fully paid leave.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 78 Target

After years of multibillion-dollar investments, Target emerged as a major e-commerce player during the pandemic. The company tripled its online business, and overall sales were up 20% last year. Its store brands, 10 of which are now billion-dollar labels, continued to catch on with shoppers even as Target made deeper inroads as a grocer. To maintain this momentum, Target plans to spend $4 billion annually in the next few years, opening more stores in city centers, remodeling hundreds a year, and expanding its e-commerce infrastructure.

These companies foster supportive cultures, where employees find opportunities for growth with help from their colleagues.

Best Large Workplaces New York 2021-Target-Corporation

Employees say: 
 
“Target takes care of its people and thrives when faced with uncertainty. With everything our country faced last year, Target offered incentives and took care of their employees.”

Best Large Workplaces in New York

See which retailers made this year's list.

Best-Workplaces-Retail-2021-Target

Employees say: 
 
“What I find unique about working at Target is that they truly give equal opportunity and don't base any decisions on your race or gender or just the way you look. All different types of people are given a chance to work here and be part of a team.”

The companies on this year's list make a conscious effort to be supportive, inclusive workplaces.

New Target Iowa City Downtown Store Photoshoot

Employees say: 
 
“You are given the confidence each and every day to truly be who you want to be here. Being confident as an individual makes a confident employee and that is really shown here.”

100 Best Large Workplaces for Women

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-30-Target

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-117-Target

Target made a big bet on renewing its own brands, remodeling stores, and overhauling its e-commerce efforts. It has paid off handsomely. The discount chain emerged as one of the big winners during the novel coronavirus pandemic thanks to its improved grocery offerings and newfound online prowess. Target’s apparel and home goods brands, many of which are quite new, have stolen market share from weakened department stores. As shoppers begin to return to non-essential items, that land grab is likely to continue, shielding Target to some extent from any prolonged downturn in consumer spending.

Best-Workplaces-Retail-2020-Target

Employees say: 
 
"They focus on self-improvement in areas you are interested in, and give opportunities to explore those interests within the company. I feel extremely supported when I want to learn more about a subject."

Best Workplaces Women 2020-Target Corporation

Employees say: 
 
“Target understands that team members have home lives, personal passions and ambitions. Target respects these human aspects of its employees and offers the flexibility to pursue a balance between work and life that is energizing and fulfilling.”

This year's Fortune 500 marks the 66th running of the list.

F500-2020-037-Target

Target has made a big bet on renewing its own brands—remodeling stores and overhauling its e-commerce efforts. And it has paid off in a big way. The discount chain has emerged as one of the big winners during the pandemic, thanks to its improved grocery offerings and newfound online prowess. Target’s apparel and home goods brands, many of which are quite new, have taken market share away from weakened department stores. And as shoppers begin to return to non-essential items, that land grab is likely to continue, shielding Target to some extent from any prolonged downturn in consumer spending.

We surveyed tens of thousands of young employees to create this list of millennials’ favorite workplaces.

Best Workplaces Millennials 2020-Target

Employees say: 
 
"Amazing teams that are very engaged. Set up for success in terms of resources. Responsibility and decision rights pushed down which empowers all levels. Great learning and development opportunities and team-building events. Endless opportunity here." 
 
Read more: <a href="https://fortune.com/2020/08/06/target-best-workplaces-millennials-company-culture-melissa-kremer/?mmmmmbmb">How Target creates a great workplace for millennials</a> 
 
 
 
&nbsp;

100 Best Large Workplaces for Millennials

Here are the World's Most Admired Companies for 2019 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

Here are the World's Most Admired Companies for 2018 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 64th running of the list.

Here are the World's Most Admired Companies for 2017 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 63rd running of the list.

Here are the World's Most Admired Companies for 2016 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

Business insiders have spoken: Asked which companies they most admire, more than 4,100 executives, directors, and analysts chose these top 50 All-Stars.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

Company Info

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Best Workplaces In Retail

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Target is a mass-market retail chain with more than 2,000 stores in the U.S. as of 2026. Beauty and household items make up nearly a third of Target’s sales, followed by groceries and home furnishings. Most of Target’s sales occur in its stores, with about 20% originating online. About a third of its sales come from Target-owned brands. It also partners with Starbucks and CVS, which operate outlets in Target stores. The company’s origins trace back to 1902 and the beginnings of what became the Dayton-Hudson department store company. The first Target opened in 1962.

Q2 2027

Q1 2027

Q4 2026

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

Target (TGT): Company Profile, Stock Price, News, Rankings

legacy

Target

target

Ladies and gentlemen, thank you for standing by. Welcome to the Target Corporation Second Quarter Earnings Release Conference Call. During the presentation, all participants will be in a listen only mode. Afterwards, we will invite you to participate in a question and answer session. At the close of prepared remarks, we will open the queue for the Q and A session.

As a reminder, this conference is being recorded Wednesday, 08/20/2025. I would now like to turn the conference over to Mr. John Holbert, Vice President, Investor Relations. Please go ahead, sir.

Good morning, everyone, and thank you for joining us on our second quarter twenty twenty five earnings conference call. On the line with me today are Brian Cornell, Chair and Chief Executive Officer Michael Fidelke, Chief Operating Officer Rick Gomez, Chief Commercial Officer and Jim Lee, Chief Financial Officer. In a few moments, Brian, Michael, Rick and Jim will provide their insights on our second quarter performance and outlook for the rest of the year and also share their perspective on today's announcement regarding CEO succession. Following their remarks, we'll open the phone lines for a question and answer investors and others who are listening to our comments via webcast. Following the call, Jim and I will be available to answer your follow-up questions.

And finally, as a reminder, any forward looking statements that we make this morning are subject to risks and uncertainties, including those described in this morning's earnings press release and in our most recently filed 10 ks. Also in these remarks, we refer to non GAAP financial measures, including adjusted earnings per share. Reconciliations of all non GAAP numbers to the most directly comparable GAAP number are included in this morning's earnings press release, which is posted on our Investor Relations website. With that, I'll turn it over to Brian to kick things off. Brian?

Thanks, John. While today's call was scheduled to discuss our second quarter earnings, I want to start with a bigger headline. The announcement that the Board of Directors has unanimously elected Michael Fidelke to become Target's next CEO and to join the board at the start of our 2026 fiscal year. The board chose Michael through a deliberate and thoughtful succession planning process, which took place over the last few years. As part of this process, the board conducted a rigorous search in which Michael's skills, experience, and qualifications were thoroughly evaluated alongside a strong list of both external and internal candidates.

Today's announcement is an important milestone in the history of our company, and I'm confident that Michael is the right candidate to lead our business back to growth. Since I arrived at Target, I have consistently relied on Michael's strategic insights and sound judgment when making decisions, and he's played a critical role in advancing the key initiatives that have grown and sustained our business. Michael knows how our business can perform and what our team can deliver when we're at our best. And he'll bring that confidence along with an aggressive mindset for change into the CEO role. Through a wide range of career experiences, Michael has developed a deeper knowledge of our business and greater insight into our organization than anyone I know.

Importantly, through these experiences, Michael has forged deep relationships and built strong trust across the organization, and I'm confident the Target team will enthusiastically embrace his leadership. As I look back on my time at Target, I'm proud of what our team has accomplished as we've worked to evolve and grow our business in countless ways. By making significant investments in our team and our physical and digital assets, we've built the right foundation on which Michael and the rest of our leadership team can deliver strong performance in the years to come. At the same time, I share Michael's passion and urgency to accelerate our performance and build new momentum in our business. Results over the last few years have fallen short of our expectations and our potential.

That's why Michael has been engaging the entire leadership team in an effort to refocus our strategy and assess how we're functioning as an organization and provide the launch pad to reestablish Target as a premier leader in retail. Included in this work is the enterprise acceleration office that we launched last quarter, in which Michael will continue to lead. The team is building out specific plans to address the attributes of our working model that slow us down in an environment that demands more speed and agility than ever before. In particular, we know that process and technology opportunities at headquarters can get in the way of a great guest and team member experience, and that's where we're focused first. Michael will share more of these initial insights in a few minutes, but I want to stress that this is a longer term effort that's focused on finding new and sustainable ways of working that can serve us for years to come.

And the way our team has worked together this year to navigate through a volatile and uncertain tariff environment provides a vivid example of how our team can perform when we remove barriers and coordinate our efforts across the business. As one of the largest importers in the country, the prospect of higher tariffs meant we were facing some major financial and operational hurdles as we entered the year. This was further complicated by the multiple changes in tariff policy that have been announced and implemented as the year has progressed. Addressing these challenges has required close coordination between our merchandising, supply chain, stores, and finance teams. This broad cross functional group has developed and rapidly implemented countless revisions to our product and inventory plans, involving our assortment, product development, sourcing, receipt timing, supply chain flow, order quantities, and pricing.

While the tariff environment remains challenging and highly uncertain, the team has made significant progress in mitigating their impact on the P and L, while maintaining our focus on value by limiting the impact on our pricing. And while we expect this year's P and L will reflect some short term pressure from tariffs, we expect to end the year in a healthy position and move beyond this period of uncertainty in 2026. And as you'll hear from the team over the next few minutes, we saw clear indications of progress in our business in the second quarter as traffic and comp trends improved meaningfully from Q1, particularly in our stores. In addition, we're continuing to see improvements in quality measures surrounding the store experience, including on shelf availability. And we continue to see particular strength in our business when guests find newness and innovation in our assortment, most notably in gaming, toys, and trading cards this quarter.

I want to pause and thank our team for their efforts to deliver these encouraging results while simultaneously working to minimize the impact of tariffs on our guests and our business. As I've traveled and visited stores and distribution facilities in recent months, I've been inspired by the positive energy I've seen throughout our team and their hunger to build on this momentum in the back half of the year and beyond. And to be clear, while we were happy to see improvement in Q2, we are far from satisfied with where our business is performing today. We need to do better, and our entire team is focused on consistent execution, building further momentum, and getting back to profitable long term growth. And we're confident that we have the right foundation for this effort.

Nearly 2,000 well located, well maintained stores located in all 50 states. A $31,000,000,000 own brand portfolio, supported by best in class product design, development, and sourcing capabilities. An assortment that includes best loved national brands in every category and world class brand partnerships, including Apple, Starbucks, Levi's, and Champion. A growing and profitable first party digital business, which provides the fuel for rapidly growing high margin businesses like Rondell and Target Plus. One of the biggest loyalty programs in the country in Target Circle, which offers a growing list of services, including personalized discounts, same day delivery, and 5% off when using our credit and debit cards.

And of course, an outstanding global team united in supporting our guests and each other. Surrounding all these assets, capabilities, our team, we're fortunate to be part of an iconic brand that's developed a unique relationship with American consumers. It's a relationship we should never take for granted. We need to continually invest and evolve how we serve our guests, just as their wants and needs will continue to evolve over time. I am confident that under Michael's leadership, the team can strengthen the Target brand and deliver profitable growth.

And I'm firmly committed to supporting Michael and the entire Target team as we work together to improve our performance, finish the year strong and enter twenty twenty six with renewed momentum across our business. With that, I'll turn the call over to Michael. Thanks,

Target (TGT) Q2 2026 Earnings Call Transcript

Company Participants