Target opening eight stores in July and August

Target Corporation reported a second quarter 2017 comparable sales increase of 1.3 percent and GAAP earnings per share (EPS) from continuing operations of $1.22, an increase of 14.2 percent from second quarter 2016. Second quarter adjusted earnings per share from continuing operations (Adjusted EPS) were $1.23, an increase of 0.1 percent from second quarter 2016. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS. Click Read More below for additional detail.

Second Quarter 2023 Results *Net sales decreased 4.8% year-over-year, to $3.7 billion, with comparable sales down 5.0%. *Gross margin as a percentage of net sales was 39.0%, a decrease of 61 basis points. *Selling, general & administrative (SG&A) expenses increased 1.6% year-over-year, to $1.3 billion. *Operating income was $163 million compared to $266 million in the prior year. *Net income was $58 million. This compares to net income of $143 million. *Inventory was $3.5 billion, a decrease of 14% year-over-year. *Operating cash flow was $430 million.

Total revenues across all categories for November 2023 were down 0.5% as compared to November 2022, coming in at $1.0 billion. Year-to-date revenues were up 0.6%, at $11.7 billion for the first eleven months of the year. November: Trade (Consumer Books) revenues were down 0.2% in November, coming in at $858.0 million. In terms of physical paper format revenues during the month of November, in the Trade (Consumer Books) category, Hardback revenues were up 2.0%, coming in at $368.8 million; Paperbacks were down 1.9%, with $262.5 million in revenue; Mass Market was down 53.4% to $9.1 million; and Special Bindings were up 13.8%, with $22.7 million in revenue.