Target
Q2 2022 Earnings Call
Aug 17, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. Welcome to Target Corporation's second quarter earnings release conference call. [Operator instructions] I would now like to turn the conference over to Mr. John Hulbert, vice president, investor relations.
Please go ahead, sir.
John Hulbert -- Vice President, Investor Relations
Good morning, everyone. And thank you for joining us on our second quarter 2022 earnings conference call. On the line with me today are Brian Cornell, chairman and chief executive officer; Christina Hennington, chief growth officer; John Mulligan, chief operating officer; and Michael Fiddelke, chief financial officer. In a few minutes, Brian, Christina, John, and Michael will provide their perspective on our second quarter performance and our outlook and priorities for the remainder of the year.
Following the remarks, we'll open the phone lines for a question-and-answer session. This morning, we're joined on this conference call by investors and others who are listening to our comments via webcast. Following the call, Michael and I will be available to answer your follow-up questions. And finally, as a reminder, any forward looking statements that we make this morning are subject to risks and uncertainties, the most important of which are described in our most recently filed 10-K.
Also in these remarks we refer to non-GAAP financial measures, including adjusted earnings per share. Reconciliations of all non-GAAP numbers to the most directly comparable GAAP number are included in this morning's press release, which is posted on our investor relations website. With that, I'll turn it over to Brian for his thoughts on the quarter and his perspective on the back half of the year. Brian?
Brian Cornell -- Chairman and Chief Executive Officer
Thanks, John, and good morning, everyone. Back in June, we announced that our team would be undertaking a bold effort to right size our inventory position in the categories for which demand patterns have radically changed. While this decision had a meaningful, short-term impact on our financial results, we strongly believe it was the best path forward. Consider the alternative.
We could have held on to excess inventory and attempted to deal with it slowly, over multiple quarters or even years. Well, that might have reduced the near-term financial impact, it would have held back our business over time. Of course, this decision would have driven incremental costs to store and manage the excess inventory over a longer period. But much more importantly, it would have degraded the guest experience.