Key facts
- Placer.ai measured a 5.9% increase in same-store Target visits in the third quarter of 2026, alongside the 7.2% chain-wide rise.
- About half of Target shoppers visited twice a month or more, and nearly one in eleven visited five times or more, per Placer.ai.
- Mizuho analyst David Bellinger said Target has addressed easier fixes and has not yet reworked home and apparel, its higher-margin categories.
- Bank of America analyst Chris Nardone said in a note that Walmart has become a more formidable competitor in home and apparel.
- Jefferies analyst Corey Tarlowe said Target has been proactive on value for shoppers' dollars as consumers turn more value-focused.
- Some investors raised concerns about an apparent slowdown in October traffic growth, which Bellinger attributed to an exceptionally strong September.
Target stores drew a 7.2% increase in chain-wide visits in the third quarter of 2026, with same-store visits up 5.9%, according to foot traffic firm Placer.ai. Placer.ai also found roughly half of Target shoppers visited twice a month or more and nearly one in eleven visited five times or more, Business Insider reported on November 13.
A separate dataset from Advan Research showed a 4.7% year-over-year increase in Target foot traffic in the third quarter, compared with 1.7% at Walmart. Target and Walmart both report quarterly earnings the week of November 16.
Target is nearly three fiscal quarters into a turnaround under CEO Michael Fiddelke, and the holiday quarter is his first in the role. Mizuho analyst David Bellinger told Business Insider that Target started with easier fixes, including tighter store operations and a refresh of food and beauty, and has not yet reworked home and apparel, where margins are higher. "If those categories turn, then the Target turnaround is fully in force," Bellinger said.
Bank of America analyst Chris Nardone said in a note that Walmart has become a more formidable player in home and apparel, categories where Target previously succeeded. Jefferies analyst Corey Tarlowe told Business Insider that Target has been proactive about offering value, adding that the retailer plays well into an environment where consumers turn more value-focused.
Some investors have raised concerns about an apparent slowdown in traffic growth in October. Bellinger attributed it to an exceptionally strong September and to stronger year-ago comparisons. Target chief merchandising officer Cara Sylvester said at a media briefing in October that the company would keep introducing new product through the holiday season.