News about Target’s revenue and profit (August, 2022)

August 17, 2022: Here’s some information on Target’s stock from this LinkedIn news page: “Target saw its profit fall nearly 90% in the second quarter from a year earlier, as the retailer moved fast to sell excess inventory at a discount. The retailer — which gets a bigger share of its revenue from discretionary items such as electronics and home goods than Walmart — said high inflation is pressuring shoppers to pull back on non-food purchases. Target said it has now significantly reduced the pileup of discretionary items in its warehouses and expects operating margins to improve in the second half of the year.”