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Summary: Target April '22-Quarter Results

Target saw positive comps but was disappointed by its profitably as a variety of macro factors – fuel, supply chain, wages, etc. – negatively impacted its results.  


In addition, Target is in the process of significant markdowns in discretionary categories as the company has seen consumer demand shift rapidly, coupled with aggressive inventory buys that resulted from tight availability in prior quarters.


While this is concerning for Target (management does expect to work through this over-inventory position), it is more concerning for the broader retail sector that is grappling with high inflation

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