---
schema_version: "secwatch.filing_event.v1"
accession: "0000027419-23-000010"
form_type: "8-K"
ticker: "TGT"
cik: "0000027419"
company_name: "TARGET CORP"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T22:54:04.243013+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Target Q4 EPS $1.89, down 41% YoY; FY22 EPS $5.98; FY23 guidance $7.75-$8.75

## Summary
- Q4 GAAP EPS $1.89 (down 41% YoY); adjusted EPS $1.89; full-year GAAP EPS $5.98 (down 58% YoY).
- Q4 comparable sales +0.7% on top of +8.9% in 2021; total revenue $31.4B, +1.3%.
- Q4 operating income $1.2B, down 44.7%; gross margin rate 22.7% vs 25.7%.
- Full-year operating income $3.8B, down 57.0%; gross margin 23.6% vs 28.3%.
- Guidance: Q1 EPS $1.50-$1.90; FY23 EPS $7.75-$8.75; expects operating margin to reach 6% by FY2024.

## SEC filing metadata
- accession: 0000027419-23-000010
- form_type: 8-K
- ticker: TGT
- cik: 0000027419
- company_name: TARGET CORP
- filed_at: 2023-02-28T23:59:59+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/27419/000002741923000010/0000027419-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27419/000002741923000010/tgt-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000027419-23-000010
- JSON: https://secwatch.observer/filing/0000027419-23-000010.json
- Plain text: https://secwatch.observer/filing/0000027419-23-000010.txt

## Key facts
- Earnings Releases
  TARGET CORP reported fourth quarter 2022 results: revenue $31.4 billion, EPS $1.89.
  - Period: fourth quarter 2022
  - Revenue: $31.4 billion
  - EPS: $1.89
  - Result: reported results
  source text: sales grew 0.7 percent in the fourth quarter, reflecting comparable stores sales growth of 1.9 percent and a comparable digital sales decline of (3.6) percent. Total revenue of $31.4 billion grew 1.3 percent in the fourth quarter compared with last year, driven by sales growth of 1.2 percent and an 8.4 percent increase in other revenue. Operating income was $1.2
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741923000010/0000027419-23-000010-index.htm
- Earnings Releases
  TARGET CORP reported full-year 2023 results: EPS $7.75 to $8.75. Guidance initiated.
  - Period: full-year 2023
  - EPS: $7.75 to $8.75
  - Guidance: initiated
  - Result: guidance update
  source text: For the full year, the Company expects comparable sales in a wide range from a low-single digit decline to a low-single digit increase. Operating income is expected to grow more than $1 billion, and GAAP EPS and adjusted EPS are both expected to range from $7.75 to $8.75.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741923000010/0000027419-23-000010-index.htm
- Earnings Releases
  TARGET CORP reported full-year 2022 results: revenue $109.1 billion, EPS $5.98.
  - Period: full-year 2022
  - Revenue: $109.1 billion
  - EPS: $5.98
  - Result: reported results
  source text: Full-year total revenue of $109.1 billion grew 2.9 percent compared with 2021, reflecting sales growth of 2.8 percent and a 9.8 percent increase in other revenue.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741923000010/0000027419-23-000010-index.htm
- Earnings Releases
  TARGET CORP reported first quarter 2023 results: EPS $1.50 to $1.90. Guidance initiated.
  - Period: first quarter 2023
  - EPS: $1.50 to $1.90
  - Guidance: initiated
  - Result: guidance update
  source text: First quarter GAAP EPS and adjusted EPS are both expected to range from $1.50 to $1.90.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741923000010/0000027419-23-000010-index.htm

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