Target Corporation (NYSE: TGT) announced its fourth-quarter and full-year 2024 financial results, reporting a 0.8% decline in full-year net sales and a 0.9% decrease in GAAP and adjusted earnings per share (EPS). However, after adjusting for the extra week in fiscal 2023, net sales grew approximately 1%, and EPS increased nearly 3% on a 52-week basis.

For the fourth quarter of 2024:
- Comparable sales increased by 1.5%, driven by strong traffic and digital performance.
- Digital comparable sales grew 8.7%.
- Same-day delivery, powered by Target Circle 360™, increased by over 25%.
- GAAP and adjusted EPS stood at $2.41, near the high end of guidance, benefiting from strong sales in Toys, Electronics, and Apparel.

For the full year:
- Comparable sales rose by 0.1%, with growth in Beauty, Food & Beverage, Apparel, and Essentials.
- Traffic increased by 1.4%, reflecting gains in both stores and digital channels.
- GAAP and adjusted EPS were $8.86, within the company's initial guidance.
- Cost savings exceeded $2 billion over the last two years.

For fiscal 2025, Target expects:
- Net sales growth around 1%, with comparable sales remaining flat.
- A modest increase in operating margin.
- GAAP and adjusted EPS between $8.80 and $9.80.

Despite record Valentine's Day sales, February's topline performance was softer due to cold weather impacting apparel sales and declining consumer confidence affecting discretionary purchases. However, Target expects improvement as seasonal shopping increases.

In the fourth quarter, net sales reached $30.9 billion, down 3.1% from 2023, largely due to the extra week in the prior year. Operating income was $1.5 billion, a 21.3% decline. Full-year operating income totaled $5.6 billion, down 2.5% year-over-year.

Target will hold a webcast for its financial community meeting at 8:00 a.m. CST today, available at **corporate.target.com/investors**.