secwatch.observer — SEC 8-K summary
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Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2024-05-22T23:59:59+00:00
Accession:  0000027419-24-000126
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Target Q1 EPS $2.03, revenue $24.5B; comparable sales down 3.7% in line with expectations
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- Q1 GAAP and Adjusted EPS $2.03 vs $2.05 a year ago; revenue $24.5B down 3.1% YoY.
- Comparable sales declined 3.7%, in line with guidance; digital comps +1.4%, same-day services +9%.
- Gross margin rate improved 140 bps to 27.7%; SG&A expense rate rose to 21.1% from 19.8%.
- Q2 EPS guidance $1.95-$2.35; full-year EPS reaffirmed $8.60-$9.60.
- Inventory down 7% YoY; relaunched Target Circle loyalty program, added >1M new members.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741924000126/0000027419-24-000126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741924000126/tgt-20240522.htm
  HTML page:      https://secwatch.observer/filing/0000027419-24-000126

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