Target Q1 adjusted EPS $2.05 (down 6%) on flat comps; guides Q2 EPS $1.30-$1.70

TARGET CORP

2023-Q1 EPS reported $2.05 revenue$25,322,000,000

GAAP/Adjusted EPS $2.05 (down 4.8%/6.2% YoY); revenue $25.3B (+0.6%) with flat comparable sales.
Operating income $1.3B (down 1.4%); operating margin 5.2% vs 5.3% last year; gross margin improved to 26.3%.
Inventory down 16% YoY; expects shrink to reduce profitability by >$500M vs last year due to theft.
Q2 guidance: GAAP/Adjusted EPS $1.30-$1.70, centered on low-single-digit decline in comparable sales.
Full-year guidance maintained: EPS $7.75-$8.75; dividend raised 20% per share; no stock buybacks in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TARGET CORP reported first quarter 2023 (three months ended April 29, 2023) results: revenue $25.3 billion, EPS $2.05. Guidance reaffirmed.

Period: first quarter 2023 (three months ended April 29, 2023)
Revenue: $25.3 billion
EPS: $2.05
Guidance: reaffirmed
Result: reported results

Exact text from the filing

sales were flat to last year in the first quarter, reflecting comparable store sales growth of 0.7 percent and comparable digital sales down (3.4) percent. Total revenue of $25.3 billion grew 0.6 percent compared with last year, reflecting total sales growth of 0.5 percent and a 10.2 percent increase in other revenue. Operating income of $1.3 billion in first

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Source: SEC EDGAR

accession 0000027419-23-000023

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