Target reports strong Q1 sales

Target's first-quarter results have exceeded Wall Street expectations, with comparable sales jumping 5.6% after a year-long slowdown.

The retail giant credited its success to a refreshed product mix, including upscale baby gear and new collaborations that resonated with consumers facing high gas prices.

CEO Michael Fiddelke, who took over in February, expressed cautious optimism that the company's $6 billion investment plan is starting to yield results.

The positive report stands in contrast to larger rival Home Depot, which recently warned of a more challenging environment for big-ticket consumer spending.