In light of the decisions announced today, and based on the Company’s current expectations for the economy and consumer environment, Target now expects its second-quarter operating margin rate will be in a range around 2%. For the back half of the year, Target now expects an operating margin rate in a range around 6%, a rate that would exceed the Company’s average Fall season performance in the years leading up to the pandemic. The company continues to expect full-year revenue growth in the low- to mid-single digit range, and expects to maintain or gain market share in 2022. Miscellaneous
Statements in this release regarding planned pricing, cost and operational actions and expectations regarding full year revenue growth and market share, operating margin rates in the second quarter and back half of the year, and improved profitability in the second half of 2022 and beyond, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which could cause the Company’s actions to differ materially. These risks and uncertainties include the possibility of further shifts of consumer demand away from the Company’s higher margin discretionary categories and the risks and uncertainties described in Item 1A of the Company’s Form 10-K for the fiscal year ed January 29, 2022. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to any forward-looking statement.
