Walmart and Target: What Their Revenue Trends Mean for Investors
Key Points
Walmart currently demonstrates a stronger revenue position through its massive scale and steady growth, whereas Target operates from a significantly smaller and more cyclical base.
Target experiences sharp quarter-over-quarter revenue spikes during its winter periods, while Walmart maintains a more consistent and gradual upward trajectory across the entire year.
Investors should watch whether the two companies see their overall revenue gap continue to widen or if the underlying cyclical patterns begin to shift in upcoming quarters.
Walmart and Target: Comparing Revenue Consistency and Scale
Walmart: Consistent Upward Revenue Trajectory
Walmart (NASDAQ:WMT) operates as a global retail powerhouse that sells groceries, daily consumables, and general merchandise through thousands of physical stores and expanding e-commerce platforms.
It agreed to acquire the connected TV advertising platform Vibe.co in June 2026 and opened a third owned milk processing facility, while it reported about 3% net income margin for the quarter ended April 30, 2026.
Target: Seasonal Revenue Volatility
Target (NYSE:TGT) operates as a general merchandise retailer providing food, apparel, and home decor to consumers across the United States through its store network and digital channels.
It announced a multi-season merchandise partnership with Hollister and appointed a new chief global supply chain officer in mid-2026, while it posted approximately 3% net income margin for the quarter ended May 2, 2026.
Why Revenue Matters for Retail Investors
Revenue here refers to the data provider's standardized income-statement revenue line item, and it serves as a critical indicator of a company's ability to attract consistent customer spending over time.
Quarterly Revenue for Walmart and Target
| Quarter (Period End) | Walmart Revenue | Target Revenue |
|---|---|---|
| Q3 2024 | $169.3 billion (period ended July 2024) | $25.5 billion (period ended Aug. 2024) |
| Q4 2024 | $169.6 billion (period ended Oct. 2024) | $25.7 billion (period ended Nov. 2024) |
| Q1 2025 | $180.6 billion (period ended Jan. 2025) | $30.9 billion (period ended Feb. 2025) |
| Q2 2025 | $165.6 billion (period ended April 2025) | $23.8 billion (period ended May 2025) |
| Q3 2025 | $177.4 billion (period ended July 2025) | $25.2 billion (period ended Aug. 2025) |
| Q4 2025 | $179.5 billion (period ended Oct. 2025) | $25.3 billion (period ended Nov. 2025) |
| Q1 2026 (Jan. 2026) | $190.7 billion | $30.5 billion |
| Q2 2026 | $177.8 billion (period ended April 2026) | $25.4 billion (period ended May 2026) |
Data source: Company filings.
Foolish Take
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Data source: Company filings. Data as of July 7, 2026.
Robert Izquierdo has positions in Target and Walmart. The Motley Fool has positions in and recommends Target and Walmart. The Motley Fool has a disclosure policy.