Wed, Jun 11, 11:54 AM (13 days ago)
**Company:** Target Corporation (TGT) **Summary:** Target Corporation reported its Q2 2023 financial results, highlighting several key metrics and trends. The company generated $26.9 billion in revenue, reflecting a 2.6% increase year-over-year. Comparable sales grew by 2.1%, driven by a 1.5% increase in traffic and a 0.6% rise in average ticket. Operating income was $1.6 billion, with an operating margin of 6.0%, down from 6.5% in the prior year due to higher costs. Earnings per share (EPS) came in at $2.24, a 1.3% decrease from the previous year. The company reported a free cash flow of $1.3 billion, a significant increase from $600 million in the same period last year. Target's inventory levels were up 28% year-over-year, reflecting strategic investments in key categories and preparation for the holiday season. The company discussed ongoing uncertainties, including inflationary pressures and supply chain challenges. However, Target remains optimistic about its future operations, focusing on enhancing the guest experience, expanding digital capabilities, and driving operational excellence. The company reiterated its full-year guidance, expecting earnings per share to be in the range of $7.75 to $8.45. **Key Metrics:** - Revenue: $26.9 billion (up 2.6% Y/Y) - Comparable Sales: +2.1% - Operating Income: $1.6 billion (down 8.3% Y/Y) - Operating Margin: 6.0% (down 0.5% Y/Y) - EPS: $2.24 (down 1.3% Y/Y) - Free Cash Flow: $1.3 billion (up from $600 million Y/Y)