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.

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