![]() ![]() ![]() We expect the company shares to likely remain under pressure in the short term. Having said that, the company’s next few quarters could show sluggish sales trends that reflect weak demand for some key product lines. Consequently, Target’s operating income improved by 360 basis points to 4.8% and adjusted earnings per share quadrupled from $0.39 in Q2 2022 to $1.80 in Q2 2023. TGT reduced its inventory by 17% y-o-y, which helped drive gross margin up from 21.5% in Q2 2022 to 27% in Q2 2023. Same-day fulfillment services, a longtime source of strength for the company, was up 4% with a 7% increase in Drive-Up. However, the retailer lapped a period with unusually high inventory levels in the year-ago quarter and made progress on initiatives to improve its gross profit margin. At the sentence-level or phrase-level sentiment analysis, documents or paragraphs are broken down into sentences, and each sentence’s polarity is identified (Meena and Prabhakar 2007 Arulmurugan et al. Further, comparable digital sales also fell 10.5% in Q2. Sentiment analysis is possible at three levels: sentence level, document level, and aspect level. Target’s TGT Q2 revenue fell 5% year-over-year (y-o-y) to $25 billion due to a 5.4% decline in comparable sales. ![]() Consumers are still pulling back on discretionary purchases. The stock decline during this period can be attributed to shifting consumer sentiment and slowing company sales. TGT stock has declined from around $149 to nearly $119 YTD, compared to a 14% growth in the S&P index. (Photo by Scott Olson/Getty Images) Getty ImagesĪfter a 20% decline year-to-date, at the current price of around $119 per share, we believe Target (NYSE: TGT), the second-largest discount chain in the U.S. Target’s quarterly sales fell for the first time in six years which is being attributed in part to consumer backlash from the sale of Pride Month merchandise. CHICAGO, ILLINOIS - AUGUST 16: Customers shop at a Target store on Augin Chicago. ![]()
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