The firm said it’s planning for “continued strength” in categories like food & beverage, household essentials, and beauty.
Target said for the back half of 2022, it now expects an operating margin rate in the range of around 6%, a rate that would exceed its average fall season performance in the years leading up to the COVID-19 pandemic.
“While these decisions will result in additional costs in the second quarter, we’re confident this rapid response will pay off for our business and our shareholders over time, resulting in improved profitability in the second half of the year and beyond,” said Cornell.
