![]() ![]() The additional steps we are announcing today will ensure that we deliver for our guests while driving further growth. ![]() Since we reported our first quarter results, we have continued to monitor external conditions and have determined the necessary actions to remain nimble in the current environment. “Target’s business continues to generate healthy increases in traffic and sales, despite sustained volatility in the macro environment, including shifting consumer buying patterns and rapidly changing operating conditions. Finally, the Company continues to build additional capacity in the Company’s upstream supply chain to support its future growth by adding five distribution centers over the next two fiscal years.Īll of the actions announced today are the result of the Company’s ongoing assessment of current industry performance, the operating environment and consumer trends. ![]() The Company is also pursuing aggressive options to control costs, including ongoing work with vendors to help offset inflationary pressures, driving continued operating efficiencies, and reducing costs while preserving a strong guest experience. Specifically, the Company is planning for continued strength in frequency categories like Food & Beverage, Household Essentials and Beauty, and is planning more conservatively in discretionary categories like Home, where trends have changed rapidly since the beginning of the year. ports to add flexibility and speed in the portions of the supply chain most affected by external volatility pricing actions to address the impact of unusually high transportation and fuel costs and working with suppliers to shorten distances and lead times in the supply chain.Īdditionally, the Company is further accelerating work that’s already in flight, including rapid revisions to sales forecasts, promotional plans and cost expectations by category. The action plan also includes the addition of incremental holding capacity near U.S. The Company is planning several actions in the second quarter, including additional markdowns, removing excess inventory and canceling orders. These actions are intended to further build on the Company’s record of growth and market-share gains. Target Corporation (NYSE: TGT) today announced a set of actions to right-size its inventory for the balance of the year and create additional flexibility to focus on serving guests in a rapidly changing environment. Plan supports continued growth by providing greater flexibility to serve guests. ![]()
0 Comments
Leave a Reply. |