Target Corp

+3.58 (+2.44%)
4:00:02 PM EDT: $150.85 +0.46 (+0.31%)
Other Pre-Announcement

Target Corporation Announces Updated 2022 Plan Focused On Inventory Optimization

Published: 06/07/2022 11:25 GMT
Target Corp (TGT) - Target Corporation Announces Updated 2022 Plan Focused on Inventory Optimization.
Target - Action Plan Includes Working With Suppliers to Shorten Distances and Lead Times in Supply Chain.
Target Corp - Planning Several Actions in Q2, Including Additional Markdowns, Removing Excess Inventory, Canceling Orders.
Target Corp - Planning for Continued Strength in Frequency Categories Like Food & Beverage, Household Essentials and Beauty.
Target Corp - Planning More Conservatively in Discretionary Categories Like Home, Where Trends Have Changed Rapidly Since Beginning of Year.
Target - Action Plan Includes Addition of Incremental Holding Capacity Near U.S. Ports, Pricing Actions to Address Impact of High Transportation, Fuel Costs.
Target Corp - Continues to Build Additional Capacity in Upstream Supply Chain by Adding 5 Distribution Centers Over Next 2 Fiscal Yrs.
Target Corp - Pursuing Aggressive Options to Control Costs.
Target Corp - Now Expects Q2 Operating Margin Rate Will Be in a Range Around 2%.
Target Corp - Continues to Expect FY Revenue Growth in Low-to Mid-single Digit Range, Expects to Maintain Or Gain Market Share in 2022.
Target Corp - for Back Half of Year, Now Expects Operating Margin Rate in Range Around 6%.
Further Company Coverage: Tgtn ((reuters.