Target (TGT) Revenue — Quarter Ended May 4, 2024
Revenue declined compared with both the prior quarter and the same quarter last year. The decrease from the immediately preceding quarter was notably larger than the decline from the year-ago period.
Key takeaway
Quarter ended May 4, 2024 · FY2024 Q1
Revenue declined compared with both the prior quarter and the same quarter last year. The decrease from the immediately preceding quarter was notably larger than the decline from the year-ago period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$24.5B
Revenue reported for this quarter.
Quarter-over-quarter
-23.1%
Change from the immediately preceding quarter.
Year-over-year
-3.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$106.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 29, 2023 | $24.8B | -4.9% |
| Oct 28, 2023 | $25.4B | -4.2% |
| Feb 3, 2024 | $31.9B | +1.7% |
| May 4, 2024 | $24.5B | -3.1% |
Revenue performance
Total revenue for the quarter was lower than the same period a year earlier, driven by a decrease in sales.
Quarterly comparison
Compared with the immediately preceding quarter, revenue fell sharply. Versus the same quarter one year ago, revenue also declined, though by a smaller margin.
What to watch
The filing context does not provide a specific cause for the revenue decline.