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And well add significant new supply chain capacity and infrastructure
400,000 strong, knowing they are absolutely essential to our recent and
3.2% increase in Digital Comparable Sales on top of 50% in Q1 2021. raised our expectations for after-tax return on invested capital, to the
hbcu Well also continue to invest heavily in our global team, now more than
Behind the scenes at Target, Food Safety and Quality Assurance Tools and Processes, Product Safety and Quality Assurance Tools and Processes, Real Estate, Design & Property Management, Service Centers & Financial Retail Services, Green Chemistry and Safer Alternatives Innovation Grant Recipients, Animal-Derived Raw Material Product Standards, Supply Chain Environmental Responsibility, Supply Chain Labor & Human Rights Policies, Download the 2021 Annual Report (PDF, 1.1MB), Download the 2020 Annual Report (PDF, 14.3MB), Download the 2019 Annual Report (PDF, 3MB). Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement. 
1Adjusted EPS, a non-GAAP financial measure, excludes the impact of certain discretely managed items. Reconciliation of Non-GAAP Financial Measures. Our Times Square store opened in March. And we reported progress on our diversity, equity & inclusion goals, including a significant increase in promotions for people of color (62%) and women to senior leadership positions (16%) since 2019. Target embraces innovation to drive strong financial performance and create new opportunities for profitable growth. TargetCorporation The attached tables provide a reconciliation of non-GAAP to GAAP measures. Other revenue includes, Calculated using the effective tax rates, which were 22.4 percent and 21.0 percent for the trailing twelve months ended, A Bullseye View. Additionally, the Company repurchased $10.0 million worth of its shares in first quarter 2022, retiring 0.1 million shares of common stock at an average price of $208.60. Investors and the media are invited to listen to the meeting at Investors.Target.com (click on link under "Upcoming Events"). Other companies may calculate Adjusted EPS differently, limiting the usefulness of the measure for comparisons with other companies. $15 to $24 per hour and to expand access to our healthcare benefits
But even as we celebrate extraordinary near-term progress, we remain
A replay of the webcast will be provided when available. 2022Target Brands, Inc. Target, the Bullseye Design and Bullseye Dog are trademarks of Target Brands, Inc. A Bullseye View. For the twelve months ended April 30, 2022, and May 1, 2021, includes tax effect of $1.8 billion related to EBIT, and $19million and $18 million, respectively, related to operating lease interest. download the 2021 10-K report
The replay number is 1-800-391-9853. Despite these near-term challenges, our team remains passionately dedicated to our guests and serving their needs, giving us continued confidence in our long-term financial algorithm, which anticipates mid-single digit revenue growth, and an operating margin rate of 8 percent or higher over time.". frontline bonuses. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Strategic not cyclical
2014-03-12T17:00:18.854Darren.Anderson
C tuition-reimbursement benefit, our evolved staffing model meant to
As recently as 2017, the main potential for Target lay in our purpose:
Adjusted EPS, a non-GAAP financial measure, excludes the impact of certain discretely managed items. And that is why Im convinced that Target will continue to deliver
Investing in the future: We continued to invest in our strategy, setting Target up to deliver even more relevant and sustainable experiences for years to come. <> by our unique ability to fulfill more than 95% of all sales, physical and
Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 463,683,711, 471,274,073 and 496,093,160 shares issued and outstanding as of April30, 2022, January29, 2022, and May1, 2021, respectively. 2022Target Brands, Inc. Target, the Bullseye Design and Bullseye Dog are trademarks of Target Brands, Inc. A Bullseye View. we saw in 2020 across our core merchandising categories. gains in diversity, equity and inclusion, and organized significant
Go behind the scenes to find out whats happening at Target. A pie chart illustrates the makeup of stores and digital sales. to drive growth over long time horizons. A photo of our new Philadelphia sortation center. These measures are not in accordance with, or an alternative to, GAAP. Minneapolis, MN 55403, [email protected]. much closer to the start of our growth than the end of it. About $4.1 billion came from store sales and about $3.3 billion came from digital sales, with digital sales expanding more than 260% during that timeframe. Other companies may calculate EBIT and EBITDA differently, limiting the usefulness of the measures for comparisons with other companies. the resources, the momentum, the size, scale and unified ambition to
More than 30 new stores and more than 200 remodels planned for 2022. Total revenue of $25.2 billion grew 4.0 percent compared with last year, reflecting total sales growth of 4.0 percent and a 6.7 percent increase in other revenue. investment of up to $300 million to set a new starting wage range of
The tables in this release provide additional information about the Companys ROIC calculation. (Note: Reflects amounts attributable to continuing operations. In 2021, investments included our industry-leading
It has also sparked exceptional business performance.
Everything about these actions and results speaks not to the past but
JFIF ` ` Exif MM * ; Vi f J Darren.Anderson 85 85 2014:03:12 17:00:18 2014:03:12 17:00:18 D a r r e n . Such statements are subject to risks and uncertainties which could cause the Company's actions to differ materially. or Target Corporation (NYSE: TGT) today announced its first quarter 2022 financial results, which reflected continued topline growth on top of unprecedented increases over the last two years. Mendota Heights, MN 55120-4100, investor relations
Comparable sales grew 3.3 percent in the first quarter, reflecting comparable store sales growth of 3.4 percent and comparable digital sales growth of 3.2 percent. 6 0 obj Adjusted EPS is a non-GAAP financial measure most directly comparable to GAAP EPS. The most important risks and uncertainties are described in Item 1A of the Companys Form 10-K for the fiscal year ended January 29, 2022. For the trailing twelve months through first quarter 2022, after-tax return on invested capital (ROIC) was 25.3 percent, compared with 30.7 percent for the trailing twelve months through first quarter 2021. year will be remodeled, will be optimized for same-day services like
All other rates are calculated by dividing the applicable amount by total revenue. A n d e r s o n "http://ns.adobe.com/xap/1.0/
in our team is the best long-term investment we can make in
Statements in this document about our future investments in strategy and our Target Forward goals are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. St. Paul, MN 55164-0874 In the simplest terms, well keep growing because weve invested in
Data Provided by Refinitiv. Capital Deployment and Return on Invested Capital. or 1110 Centre Pointe Curve Suite 101 Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding during any period presented. Behind the scenes at Target, Food Safety and Quality Assurance Tools and Processes, Product Safety and Quality Assurance Tools and Processes, Real Estate, Design & Property Management, Service Centers & Financial Retail Services, Green Chemistry and Safer Alternatives Innovation Grant Recipients, Animal-Derived Raw Material Product Standards, Supply Chain Environmental Responsibility, Supply Chain Labor & Human Rights Policies, https://www.prnewswire.com/news-releases/target-corporation-reports-first-quarter-earnings-301549736.html. Now we do, and the results are unmistakable. Here are a few more areas we suggest you explore: To sign up for new email alerts, or to change your request, enter your email address below. expanded grocery space. Calculated using the effective tax rates, which were 22.4 percent and 21.0 percent for the trailing twelve months ended April 30, 2022, and May 1, 2021, respectively. The most comparable GAAP measure is diluted earnings per share. John Hulbert, Investors
11-straight quarters of growth that preceded COVID-19. The Company's first quarter 2022 net interest expense was $112 million, in line with $108 million last year. range of locations, serving a more diverse guest base than ever. %PDF-1.4 %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz <> stream Operating income was $1.3 billion in first quarter 2022, down 43.3 percent from $2.4 billion in 2021, driven primarily by a decline in the Company's gross margin rate. A Team that Cares to Grow
3.4% increase in Store Comparable Sales on top of 18% in Q1 2021. The decrease in ROIC was driven primarily by lower profitability in first quarter 2022. Note: Sales fulfilled by stores include in-store purchases and digitally originated sales fulfilled by shipping merchandise from stores to guests, Order Pickup, Drive Up, and Shipt. audience of investors earlier this year: that caring for and investing
Since 2019, Q1 sales grew more than 40%, just over $7.4 billion. extensive remodel program. Growth was led by Drive Up, which grew in the high teens. During the first quarter of 2022, the Company entered into an Accelerated Share Repurchase (ASR) arrangement for up to $2.75billion of common stock, with final settlement outstanding as of the end of the first quarter. We expect investments like the ones Ive mentioned here to keep
We believe this metric is useful in assessing the effectiveness of our capital allocation over time. teams aspirations and the capabilities needed to bring them to life. Statements in this release regarding second quarter and full year comparable sales growth and operating margin rates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Dont miss out on the latest Target news and behind-the-scenes happenings! growth for the long term. The replay number is 1-800-391-9853. The Company reported first quarter GAAP earnings per share (EPS) of $2.16, down48.2 percent from $4.17 in 2021. Minneapolis, MN 55403, [email protected]. we serve. Only about half of our nearly 2,000 stores have been touched by our
Moving forward: We advanced our Target Forwardsustainability strategy, including our first net zero energy store in California that generates renewable energy and reduces emissions. ever through our culture, I cant think of a team that is better suited to
digital, from our stores. First quarter SG&A expense rate was 18.9 percent in 2022, compared with 18.6 percent in 2021, reflecting the net impact of cost increases across our business, including investments in hourly team member wages, partially offset by lower incentive compensation expense. Investors and the media are invited to listen to the meeting at Investors.Target.com (click on link under "Upcoming Events"). link opens in a new window. Minimum 15 minutes delayed. 
EQ Shareowner Services See the tables of this release for additional information about the items that have been excluded from Adjusted EPS. to even greater potential. <> Performance points to greater potential
Comparable sales grew 3.3 percent in the first quarter, reflecting comparable store sales growth of 3.4 percent and comparable digital sales growth of 3.2 percent. The most comparable GAAP measure is net earnings. We have locations that grew from $40 million in sales to $50 million or
Earnings before interest expense and income taxes (EBIT) and earnings before interest expense, income taxes, depreciation and amortization (EBITDA) are non-GAAP financial measures. MINNEAPOLIS, May 18, 2022 /PRNewswire/ --, For additional media materials, please visit:https://corporate.target.com/article/2022/05/q1-2022-earnings. For a behind-the-scenes look at Target, visit Target.com/abullseyeview or follow @TargetNews on Twitter. 
This morning, Target announced our first quarter 2022 earnings results. control, staying focused on familieson delivering small doses of
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P.O. We strive to return all of our media inquiries within one business day. 2022Target Brands, Inc. Target, the Bullseye Design and Bullseye Dog are trademarks of Target Brands, Inc. 3.3% increase in Comparable Sales on top of nearly 23% in Q1 2021. sustainability for the decades ahead. Please see our SEC filings for risks and uncertainties that could cause Target actions to differ materially from what was expected on the date of this document, May 18, 2022. 2022Target Brands, Inc. Target, the Bullseye Design and Bullseye Dog are trademarks of Target Brands, Inc. A Bullseye View. "Guests continue to depend on Target for our broad and affordable product assortment, as reflected in Q1 guest traffic growth of nearly 4 percent. + Total depreciation and amortization (a). company culture: take care of the millions of families who comprise our
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement. We believe these measures provide meaningful information about our operational efficiency compared with our competitors by excluding the impact of differences in tax jurisdictions and structures, debt levels, and, for EBITDA, capital investment.
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