Walmart, Target, and Ralph Lauren Show Strength as Retail Earnings Season Wraps Up

TLDR

• Walmart beat revenue expectations with $177.75 billion in quarterly sales, up 7.4% year over year, and reaffirmed its full-year guidance
• Target reported EPS of $1.71, beating estimates of $1.47, with revenue of $25.44 billion, up 6.7% year over year
• Ralph Lauren posted strong quarterly results driven by fewer discounts and more full-price sales, with annual revenue topping $8 billion
• Institutional investors added to positions in both Walmart and Target during the fourth quarter
• Ralph Lauren’s executive chairman sold over 263,000 shares worth nearly $100 million on May 28, 2026

Retail earnings season has wrapped up with three major names standing out: Walmart, Target, and Ralph Lauren. Each company reported solid results despite ongoing pressure from inflation and high gas prices. Consumer spending has held up better than many expected, supported by a strong labor market and wealth effects among higher-income shoppers.

Walmart Beats Revenue and Holds Its Guidance

Walmart reported quarterly revenue of $177.75 billion, above analyst estimates of $174.84 billion. Earnings per share came in at $0.66, matching expectations. Revenue was up 7.4% compared to the same period last year.

Walmart Inc., WMT

The company reaffirmed its FY2027 guidance, projecting EPS of $2.75 to $2.85. For Q2 2027, it guided EPS of $0.72 to $0.74.

Walmart’s e-commerce business grew 26% globally. The company has expanded its appeal to higher-income shoppers while maintaining its core value proposition.

TD Cowen raised its price target on Walmart to $150, keeping a Buy rating. Royal Bank of Canada reiterated an Outperform rating with a $137 target. The consensus among analysts is a Moderate Buy, with an average target price of $138.71.

Walmart’s CEO sold 13,125 shares on May 21, under a pre-arranged trading plan. The stock opened at $118.90 on Friday, down from its 52-week high of $135.15. The stock is expected to grow earnings by around 10% this year.

Target Beats Estimates and Raises Its Profile

Target reported EPS of $1.71 for its latest quarter, beating the $1.47 consensus estimate by $0.24. Revenue came in at $25.44 billion, above the $24.66 billion estimate, and rose 6.7% year over year.

Target Corporation, TGT

The company set full-year FY2026 guidance at EPS of $7.50 to $8.50. Analysts expect Target to post around $8.35 EPS for the full year.

Target declared a quarterly dividend of $1.14 per share, giving it a 3.5% yield. The dividend will be paid on June 1, 2026.

Institutional buying was steady. Ilmarinen Mutual Pension Insurance increased its stake by 18.9% in Q4, adding 11,500 shares. The stock opened at $128.59 on Friday.

Analyst ratings are mixed. Eleven analysts rate it Buy, nineteen Hold, and three Sell. The average price target is $125.93. BMO Capital Markets raised its target to $130 with a Market Perform rating.

The stock has rallied more than 30% year to date and trades at roughly 15.4 times forward earnings.

Ralph Lauren Posts Record Revenue and Sees Insider Sale

Ralph Lauren reported record annual revenue above $8 billion. The strong quarter was driven by fewer markdowns and more full-price sales, showing that its brand strategy is working.

Analysts pointed to margin expansion and direct-to-consumer growth as key drivers. The company has maintained pricing discipline even as cost pressures remain.

On May 28, 2026, executive chairman Ralph Lauren sold 263,654 shares for approximately $99.7 million. The sale drew attention given its size but is common among executives managing personal portfolios.

Shares trade near all-time highs at around 20 times next year’s estimated earnings. The stock carries a 1.1% dividend yield and is up 6.69% year to date. The market cap stands at $22.73 billion.

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