secwatch.observer — SEC 8-K summary
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Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2022-08-17T23:59:59+00:00
Accession:  0000027419-22-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Target Q2 EPS $0.39 (-89% YoY); operating margin 1.2% on inventory markdowns
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- GAAP diluted EPS $0.39, down 89.2% from $3.65; adjusted EPS also $0.39.
- Total revenue $26.0B (+3.5% YoY); comparable sales +2.6% on top of 8.9% growth last year.
- Operating income $321M (-87%); gross margin rate 21.5% vs 30.4% last year, driven by higher markdowns and freight costs.
- Reduced fall discretionary receipts by over $1.5B; completed $2.6B ASR repurchase at avg $211.58/share.
- Full-year guidance: revenue growth low- to mid-single-digits; H2 operating margin around 6%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741922000023/0000027419-22-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741922000023/tgt-20220817.htm
  HTML page:      https://secwatch.observer/filing/0000027419-22-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer