Target sales rise as tariff refunds lift profits

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Target reported second-quarter net sales of $26.5 billion, up 5.3%, while comparable sales increased 3.8% as traffic rose 3.6%.

GAAP and adjusted earnings per share doubled to $4.11. However, $994 million in tariff refunds, recognised as a reduction in cost of sales, contributed $752 million to net earnings and $1.65 per share.

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