---
schema_version: "secwatch.filing_event.v1"
accession: "0000027419-22-000032"
form_type: "8-K"
ticker: "TGT"
cik: "0000027419"
company_name: "TARGET CORP"
filed_at: "2022-11-16T23:59:59+00:00"
generated_at: "2026-06-21T17:48:20.438936+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Target Q3 EPS $1.54 (-49% YoY); lowers Q4 guidance; announces $2-3B efficiency plan

## Summary
- GAAP EPS $1.54 vs $3.04 last year; revenue $26.5B (+3.4%); comparable sales +2.7%.
- Operating margin 3.9% vs 7.8% last year; gross margin fell to 24.7% from 28.0% due to markdowns, shrink, higher costs.
- Q4 guidance: low-single-digit comparable sales decline; operating margin rate centered around 3%.
- Announces enterprise efficiency initiative targeting $2-3B cumulative savings over three years.
- Dividend increased 20% (paid $497M in Q3); no share repurchases in quarter; $9.7B remaining authorization.

## SEC filing metadata
- accession: 0000027419-22-000032
- form_type: 8-K
- ticker: TGT
- cik: 0000027419
- company_name: TARGET CORP
- filed_at: 2022-11-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/27419/000002741922000032/0000027419-22-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27419/000002741922000032/tgt-20221116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000027419-22-000032
- JSON: https://secwatch.observer/filing/0000027419-22-000032.json
- Plain text: https://secwatch.observer/filing/0000027419-22-000032.txt

## Key facts
- Earnings Releases
  TARGET CORP reported the three months ended October 29, 2022 results: revenue $26.5 billion, EPS $1.54. Guidance lowered.
  - Period: the three months ended October 29, 2022
  - Revenue: $26.5 billion
  - EPS: $1.54
  - Guidance: lowered
  - Result: reported results
  source text: sales grew 2.7 percent in the third quarter, reflecting comparable store sales growth of 3.2 percent and comparable digital sales growth of 0.3 percent. Total revenue of $26.5 billion grew 3.4 percent compared with last year, reflecting total sales growth of 3.3 percent and a 9.5 percent increase in other revenue. Operating income was $1.0 billion in third
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741922000032/0000027419-22-000032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.