Target’s inventory course correction, announced premarket, are the right moves but come a little late, one analyst group says. $TGT will focus on some categories, like food and beauty, and downplay others, like home, where demand has lessened.
Target Corp.’s inventory course correction, announced during Tuesday premarket hours, are the right moves but come a little late, one analyst group says.
Target now expects the second-quarter operating margin rate will be in the 2% range, and an operating margin rate in the range of 6% for the back half of the year. The company still expects full-year revenue growth in the low- to mid-single digit range, and expects to maintain or gain market share for the year.
See: Unlike Target and Walmart, beauty and fashion retailers post better-than-expected quarterly results as shoppers fill their social calendars Quo Vadis takes a bearish view of Target’s situation, adding that this latest plan indicates an internal problem rather than an external one.
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