---
schema_version: "secwatch.filing_event.v1"
accession: "0000027419-23-000032"
form_type: "8-K"
ticker: "TGT"
cik: "0000027419"
company_name: "TARGET CORP"
filed_at: "2023-08-16T23:59:59+00:00"
generated_at: "2026-06-11T08:53:04.641613+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Target Q2 GAAP EPS $1.80 beats guidance; sales miss, FY guidance cut

## Summary
- Q2 GAAP & adjusted EPS $1.80 vs $0.39 a year ago, above high end of guidance.
- Revenue $24.8B (-4.9% YoY); comparable sales -5.4% (store -4.3%, digital -10.5%).
- Operating income margin 4.8% vs 1.2% last year; gross margin 27.0% vs 21.5%.
- Inventory down 17% YoY; frequency categories grew, discretionary fell.
- FY2023 EPS guidance lowered to $7.00-8.00 from $7.75-8.75; Q3 EPS guided $1.20-1.60.

## SEC filing metadata
- accession: 0000027419-23-000032
- form_type: 8-K
- ticker: TGT
- cik: 0000027419
- company_name: TARGET CORP
- filed_at: 2023-08-16T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/27419/000002741923000032/0000027419-23-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27419/000002741923000032/tgt-20230816.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000027419-23-000032
- JSON: https://secwatch.observer/filing/0000027419-23-000032.json
- Plain text: https://secwatch.observer/filing/0000027419-23-000032.txt

## Key facts
- Earnings Releases
  TARGET CORP updated its the three months ended July 29, 2023 guidance (lowered).
  - Period: the three months ended July 29, 2023
  - Guidance: lowered
  - Result: reported results
  source text: On August 16, 2023 , Target Corporation issued a News Release containing its financial results for the three months ended July 29, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27419/000002741923000032/0000027419-23-000032-index.htm

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