Target’s earnings take a huge hit as retailer sells off unwanted inventory

Target’s earnings take a huge hit as retailer sells off unwanted inventory

https://www.cnbc.com/2022/08/17/target-tgt-q2-2022-earnings.html

• Target’s profit plunged as it slashed prices to clear out a glut of unwanted inventory.
• The retailer maintained its outlook for the year, however.
• “If we hadn’t dealt with our excess inventory head on, we could have avoided some short-term pain on the profit line, but that would have hampered our longer-term potential,” Target’s CFO said.