Oct
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Target 2023 Financial Report Overview
October 2, 2023 | | 1 Comment
Target CEO Brian Cornell wants shareholders to know that his main goal for the company is to continue to grow steadily and profitably.
Cornell knows that this growth is not always going to be at a constant positive rate. The Covid Pandemic led target to massive jumps in profitability in the years 2020 and 2021, but he knows that these jumps won’t continue. The key is to stay consistent with the beliefs of the company and continue to come up with innovative ideas.
Cornell mentions the model that Target put into effect in 2019 and how it helped the company’s value to jump more than $30 billion. He emphasized that they will continue to stick with this model, even with the struggles they faced in 2022.
Cornell said this in his letter to shareholders, “We expect these advances in efficiency to result in $2 to $3 billion in savings in the years ahead, providing additional fuel for future growth.”
The CEO also mentioned a couple of areas of emphasis for the company. Including, digital growth, loyalty to customers, and their enterprise sustainability strategy, “Target Forward”.
Target executives know that 2023 will bring challenges for the company. They want shareholders to know that they will continue to be resilient and always put the needs of consumers, employees, and shareholders at the forefront.
https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_TGT_2022.pdf
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1 Comment so far
Good on the three elements: Summary, paraphrase and quote. Nicely done.