Target 2022 Highlights
on top of 12.7% in FY 2021
Comparable
Sales
In 2022, our team built on the substantial gains we’ve made since 2019, demonstrating the overall strength of our strategy despite a difficult operating environment.
Delivering growth
on top of >20% in FY 2021
+1.5%
Digital Comparable Sales
$5.98
GAAP EPS
$6.02
Adjusted EPS*
*Adjusted EPS is a non-GAAP financial measure most directly comparable to GAAP EPS. Adjusted EPS is reconciled to GAAP EPS in our Q2 2022 earnings release posted on our investor relations website.
**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. 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, November 16, 2022.
on top of 11.0% in FY 2021
+2.4%
+2.2%
Store
Comparable Sales
in total sales growth in 2022
increase in traffic
2.1
%
Our multi-category assortment and industry-leading same-day services delivered on guests’ needs and wants, reflecting the relevancy of our differentiated shopping experience.
Spreading joy with value, inspiration and ease
*Adjusted EPS is a non-GAAP financial measure most directly comparable to GAAP EPS. Adjusted EPS is reconciled to GAAP EPS in our Q4 and full year 2022 earnings release posted on our investor relations website.
** Numerator is a data and tech company reinventing the market research industry with first-party, consumer-sourced data.
Statements in this document about our future performance and long-term prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please see our Q4 and full year 2022 earnings release and our SEC filings for risks and uncertainties that could cause Target’s actions to differ materially from what was expected on the date of this document, February 28, 2023.
across all five of our core categories in 2022
$3 billion
in revenue growth during Q4
compared to 2021
~$400 million
Unit share
gains
growth in same-day services in 2022
~7
%
Same-day services now make up
of Target’s total sales.
>10
%
3 of Target’s owned brands
made Numerator’s** list of the fastest-growing owned brands
of 2022. We’re the only retailer
to have more than one.
Our more-than-$30-billion owned brand portfolio continued growing faster than overall sales in 2022.
The resiliency and flexibility
of our multi-category portfolio was reflected in the strength of our frequency categories, with double-digit comparable
sales increases in food & beverage and beauty for the
third consecutive year.
Guests loved the newness across our assortment, quickly snapping up new brands and partnerships like:
future
collective
tabitha brown
stoney clover lane
marks & spencer
fall designer collection
In 2022, we expanded our Drive Up enhancements, piloting Starbucks orders at select locations, building even more ease and delight into this industry-leading same-day service.
In 2022, we invested more than $5 billion in our strategy to support
long-term growth.
Positioned for long-term growth
We reached new guests with 23 new stores.
We created a fresh guest experience with 140 full-store remodels, plus investments in hundreds of other stores to enhance fulfillment capabilities and build Apple, Ulta Beauty and Disney shop-in-shops.
We fueled growth while speeding up deliveries and reducing costs with six new sortation centers, bringing our total to nine facilities operating across the country.
We continued to advance our Target Forward sustainability strategy, fueling our growth potential while helping better the world, including:
Opening Target’s first store designed to be net zero energy
Launching Target Zero, featuring products and packaging designed to reduce waste
