When does Target’s fiscal year start and end?
Target’s fiscal year ends on the Saturday closest to January 31 each year. For FY2025, that end date was January 31, 2026. FY2026 started on February 1, 2026 and will close on January 30, 2027. This makes Target’s fiscal calendar nearly identical to Walmart’s in structure, though the exact end dates shift by a day or two depending on which Saturday falls nearest to January 31.
Target pays team members on a biweekly schedule, meaning you receive 26 paychecks throughout the year. Pay runs through Workday, and you can access your pay stubs, tax documents, and direct deposit info through Target’s login portals.
How does Target’s fiscal year compare to the calendar year?
| Category | Fiscal year (Feb-Jan) | Calendar/tax year (Jan-Dec) |
| Start date FY2026 | February 1, 2026 | January 1, 2026 |
| End date FY2026 | January 30, 2027 | December 31, 2026 |
| Benefits enrollment | Follows fiscal year | – |
| PTO accrual resets | Aligned with fiscal year | – |
| Performance reviews | Fiscal year lookback | – |
| W-2 tax forms | – | Calendar year (Jan-Dec) |
| 401(k) contribution limits | – | Calendar year IRS limits |
| Tax filing deadlines | – | April 15, 2027 for tax year 2026 |
This is where most of the confusion lives for Target team members. Your benefits, PTO, and performance reviews all follow the fiscal year. Your taxes and W-2 follow the standard calendar year. Those two calendars overlap but do not match up perfectly.
What is a 4-5-4 retail calendar, and why does Target use one?
Like most large retailers, Target uses a 4-5-4 fiscal calendar. Each quarter contains 13 weeks divided into periods of 4 weeks, 5 weeks, and 4 weeks. This gives Target consistent weekly comparisons for sales data across years.
In a standard year, that means 52 weeks. Every 5 to 6 years, Target adds a 53rd week to realign the fiscal calendar with the actual calendar. The last 53-week year was FY2023, which ended on February 3, 2024. FY2025 (ending Jan 31, 2026) and FY2026 are both standard 52-week years.
For store-level team members, the 4-5-4 structure mostly affects how your store’s sales goals break down by period. It does not change your pay dates or how your hours are calculated. Managers and leaders reference fiscal weeks and periods constantly during planning, especially around Q4 when holiday sales volume is at its peak.
How does Target’s biweekly pay schedule work?
Target pays every two weeks through Workday. Paychecks land on Friday, and if that Friday falls on a federal holiday, pay usually processes on the prior business day. Each pay period covers 14 calendar days, and you will receive 26 paychecks per year.
Target also offers DailyPay, which lets team members access up to 100% of earned wages before payday. Instant transfers carry a small fee, though next-day transfers to your bank are free. You can view pay stubs, tax forms, and payment history through Workday at wd5.myworkday.com/target. The Target W-2 forms page has details on accessing your tax documents.
Two months each year will include three paychecks instead of two. Which months those are depends on when your specific pay cycle lands. Mark your calendar for those months because a third paycheck is an easy opportunity to build savings or catch up on expenses.
DailyPay has been a popular addition for Target team members living paycheck to paycheck. You can sign up through your Workday profile or ask your HR team lead for enrollment details. The app shows your available earned balance in real time, and you can transfer any portion of it to your bank. Just be aware that frequent instant transfers add up in fees over time.
What are the key deadlines tied to Target’s fiscal calendar?
Open enrollment (fall, typically October-November): Target runs benefits enrollment in the fall, with coverage changes taking effect at the start of the new fiscal year in February. If you miss the window, your current elections roll over automatically. The Target employee benefits page covers all the available plans, including the 401(k) with dollar-for-dollar match up to 5%.
PTO accrual resets: Target’s PTO bank resets at the beginning of the fiscal year. Full-time hourly team members earn roughly 60 hours per year in their first years, increasing with tenure. Check your balance before the fiscal year turns over so you do not lose accrued time. Full details are on the Target PTO policies page.
Annual performance reviews: Target reviews happen on a fiscal-year cycle. Your manager evaluates performance from the prior fiscal year, and merit increases process in the spring. Strong reviews can also lead to role promotions and pay band increases.
Team member discount updates: Target periodically adjusts its discount program at the fiscal year boundary. The current discount is 10% on most merchandise and 20% on wellness items, and it stacks with the 5% RedCard savings. In April 2026, Target expanded the 20% discount to include adult owned-brand apparel. Find all the details on the Target employee discounts page.
Does the fiscal calendar affect my W-2?
No. Your Target W-2 is based on the standard calendar year, January 1 through December 31. Target is required by the IRS to deliver W-2 forms by January 31, which happens to fall right around the fiscal year-end, but that is just coincidence.
Current team members can access W-2s through Workday under Menu, then Tax Forms. Former team members can get their W-2 through Paperless Employee at paperlessemployee.com/target.
How does Target’s fiscal calendar compare to other retailers?
Target’s fiscal year structure is almost identical to Walmart, Home Depot, Kroger, and most other large retailers. They all end their fiscal years near January 31, and they all use some version of the 4-5-4 or 4-4-5 retail calendar. The differences are small, usually just which exact Saturday or Sunday they pick as the official end date.
The real outlier in retail is Walgreens, which ends its fiscal year on August 31 instead of late January. If you have worked at both Target and Walgreens, the timing difference for open enrollment and benefits can be jarring. Kroger is another one worth noting for pay schedule differences: they pay hourly workers weekly instead of biweekly, so their paycheck rhythm is completely different even though the fiscal year dates are almost the same as Target’s.
What should team members remember?
The fiscal year at Target runs February through January. Benefits, PTO, and performance reviews follow that schedule. Taxes and W-2s follow the January-to-December calendar year. And paychecks arrive every two weeks on Friday, 26 times per year.
If you need to reach someone about payroll or benefits questions, the Target HR contact guide has the right numbers. The main HR line is 1-800-394-1885. For everything else about working at Target, start at the Target employee resource hub.