“These Target numbers are awful, nothing about this quarter is good” - Theft and Organized Crime Impact Inventory Shrink, Q2 Outlook Lags Expectations - $TGT
Benzinga
2023-05-17
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The Premarket Prep team discuss Target's Q1 earnings report.
“As we look ahead, we now expect shrink will reduce this year’s profitability by more than $500 million compared with last year,” said Brian Cornell, chairman and CEO of Target.
“While there are many potential sources of inventory shrink, theft and organized retail crime are increasingly important drivers of the issue.”
“As we look ahead, we now expect shrink will reduce this year’s profitability by more than $500 million compared with last year,” said Brian Cornell, chairman and CEO of Target.
“While there are many potential sources of inventory shrink, theft and organized retail crime are increasingly important drivers of the issue.”
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