Target Corporation (NYSE:TGT) Q2 2023 Earnings Conference Call August 16, 2023 8:00 AM ET

Company Participants

John Hulbert - VP, IR

Brian Cornell - Chairman and CEO

Christina Hennington - Chief Growth Officer

John Mulligan - COO

Michael Fiddelke - CFO

Conference Call Participants

Rupesh Parikh - Oppenheimer

Kate McShane - Goldman Sachs

Oliver Chen - TD Cowen

Michael Lasser - UBS

Simeon Gutman - Morgan Stanley

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Target Corporation's Second Quarter Earnings Release Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, August 16, 2023.

I would now like to turn the conference over to Mr. John Hulbert, Vice President, Investor Relations. Please go ahead, sir.

John Hulbert

Good morning, everyone, and thank you for joining us on our second quarter 2023 earnings conference call.

On the line with me today are Brian Cornell, Chair and Chief Executive Officer; Christina Hennington, Chief Growth Officer; John Mulligan, Chief Operating Officer; and Michael Fiddelke, Chief Financial Officer. In a few moments, Brian, Christina, John and Michael will provide their insights on our second quarter performance, along with our outlook and priorities for the remainder of the year. Following their 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, including those described in this morning's earnings press release and 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 numbers 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 second quarter and his priorities for the remainder of the year. Brian?

Brian Cornell

Thanks, John. And good morning, everyone.

In the second quarter, our team and our business model showed remarkable resilience in the face of multiple headwinds in the external environment. While these headwinds have led to a temporary slowdown in the pace of our business, that doesn't mean our team is standing still.