Execs with Target (TGT) pointed to improving sales trends in May during the firm's earnings call. A "slow" improvement is anticipated with the company investing in growing traffic and sales.
No share repurchases are expected in Q2. Buybacks could be pulled until there is more visibility on the data breach costs.
Lower operating margins are expected with new product investments and as Canada costs pile up.
There is an acknowledgement that Target's performance in Canada has been a disappointment, but not too many details on how the launch will be refined or improved. Excess inventory is still being cleared. REDCard penetration is at 3.9%.