secwatch.observer — SEC 8-K summary
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Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2023-08-16T23:59:59+00:00
Accession:  0000027419-23-000032
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000032/0000027419-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000032/tgt-20230816.htm
  HTML page:      https://secwatch.observer/filing/0000027419-23-000032

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