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Target: reduces target or operating margin

( - Target today reduced its operating margin guidance to around 2% for Q2, and also expects around 6% for H2.

It justifies this reduction by a series of actions to adjust the size of its inventory for the remainder of the year and create additional flexibility to focus on serving customers in a rapidly changing environment.

In particular, the supermarket chain is planning several actions in Q2, including additional markdowns, removal of excess inventory and cancellation of orders.

However, Target still expects low to mid-single digit FY sales growth, while maintaining its market share - or even increasing it - in 2022.

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