Second-quarter net income, excluding special items, declined to $0.39 per share from $3.64 per share in the same period of last year and missed the estimates. Unadjusted profit was $183 million or $0.39 per share, compared to $1.82 billion or $3.65 per share a year earlier.
Meanwhile, net sales increased 4% annually to $26.04 billion, which is in line with analysts’ forecast. Comparable sales moved up 2.6%, supported by continued strength in food & beverage, beauty, and household essentials.
Check this space to read management/analysts’ comments on Target’s Q2 2022 results
“Looking ahead, the team is energized and ready to serve our guests in the back half of the year, with a safe, clean, uncluttered shopping experience, compelling value across every category, and a fresh assortment to serve our guests’ wants and needs,” said Target’s CEO Brian Cornell.
