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Retail Working Capital
Target’s Inventory, Margin & Cash
Use Target’s fiscal 2024 filing to connect comparable sales, gross margin, inventory, operating cash flow and retail accounting judgments. Fiscal year ended February 1, 2025, compared with fiscal 2023; USD millions unless stated. Target’s 2024 annual report and MD&A were checked. Fiscal 2023 contained 53 weeks versus 52 in fiscal 2024; company explanations are attributed and all scenario inputs are labeled hypothetical.
What you will learn
- Separate reported sales from comparable-sales drivers.
- Calculate gross and operating margins.
- Explain inventory timing and cash conversion.
- Interpret shrink and markdown estimation risk.
- Adjust comparisons for a 53-week prior year.
- Build an inventory decision with measurable gates.