Target exceeded Q4 expectations with a net income of $1.1 billion, or $2.41 per share, surpassing Wall Street's forecast of $2.26 per share. However, sales and profits declined compared to the previous year, and the company anticipates pressure on profits due to tariffs and other costs. Revenue fell to $30.91 billion, still beating expectations. The implementation of tariffs by the U.S. and retaliatory measures by China are expected to impact consumer spending and business operations.