Earnings Roundup: Best Buy, On and Target

* Best Buy (Minneapolis) reported year-end sales of just under $42.7 billion, up 0.4% from a year earlier, and adjusted diluted earnings per share of $6.43, up from $6.37 a year earlier. “Our data sources show our overall market share was at least flat, pointing to slightly softer customer demand for our industry during the holiday quarter,” said Corie Barry CEO of the electronics retailer, which has about 1000 stores in the U.S. and about 330 in Canada.

* On Holding AG (Zurich) recorded net sales of $3.85 billion, a 30% increase over a year earlier, but saw its net income fall 15.9%, to $260 million. “Our vision is proving itself at a new scale – from the exceptional productivity of our growing retail footprint to the compounding value of our multi-category expansion,” said Martin Hoffmann, CEO and CFO of the seller of premium athletic shoes, apparel and accessories. (The specific number of stores On operates was not immediately available, but published reports indicate it is in the midst of a 100-store expansion effort in several international markets.)

* Target Corp. (Minneapolis) posted full-year net sales $104.8 billion, down 1.7% from a year earlier, and operating income of $5.1 billion, down 8.1%. “I’m incredibly proud of how our team navigated through a challenging year in 2025, as they focused on serving our guests while positioning our business for profitable growth in 2026 and beyond,” said Michael Fiddelke, a longtime company veteran who took over as CEO of the just-under 1000-store chain in early February.