secwatch.observer — SEC 8-K summary
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Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0000027419-23-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000023/0000027419-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000023/tgt-20230517.htm
  HTML page:      https://secwatch.observer/filing/0000027419-23-000023

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