Target released Q3 earnings on Wednesday, November 16th, 2022. The retailer disappointed shareholders with Q3 results below expectations and lowered guidance for Q4, resulting in the company’s stock falling $30 per share after market open yesterday. Ongoing economic pressures, uncertainty, and softening demand have challenged Target’s profitability.
Despite challenges to the bottom line, Target continued to see growth in sales and unit share, indicating that customers remain loyal to the retailer. Target also announced a multiyear, enterprise-wide evaluation of processes and efficiencies to cut $2-3B of costs.
Download our full recap of the call and unique takeaways for suppliers below:
