Thu, May 15, 8:20 PM (65 days ago)
**Company:** Target Corporation (TGT) **Summary:** Target Corporation reported its Q2 2023 financial results, highlighting a strong quarter driven by robust sales and strategic initiatives. Revenue for the quarter was $26.9 billion, reflecting a 3.5% year-over-year increase. Comparable sales grew by 2.6%, driven by a 2.1% increase in traffic and a 0.5% rise in average basket size. The company's gross margin rate was 29.3%, down 120 basis points year-over-year, primarily due to higher costs and promotional activities. Operating income was $1.4 billion, with an operating margin of 5.2%, down from 6.1% in the prior year. Net earnings were $760 million, or $1.80 per diluted share, compared to $1.60 per diluted share in the previous year. The company generated $1.7 billion in operating cash flow and invested $1.1 billion in capital expenditures. Target's digital sales grew by 7%, accounting for 19.4% of total sales. The company continues to invest in its supply chain and technology infrastructure to support future growth. However, Target faces uncertainties related to inflation, supply chain disruptions, and changing consumer behavior. The company remains focused on executing its strategy to drive long-term growth and shareholder value. **Key Metrics:** - Revenue: $26,900,000,000 - Comparable Sales Growth: 2.6% - Gross Margin: 29.3% - Operating Income: $1,400,000,000 - Net Earnings: $760,000,000 - Earnings per Share: $1.80 - Operating Cash Flow: $1,700,000,000 - Capital Expenditures: $1,100,000,000