Target (TGT 144.82, -14.85, -9.3%): lowers Q2 operating margin guidance to ~2% (prior 5.3%) in conjunction with plan to focus on inventory optimization; reaffirms FY23 revenue growth in low-to-mid-single digit range
Walmart (WMT 120.46, -4.41, -3.5%): trading lower in response to the warning from Target
Kohl’s (KSS 46.00, +3.88, +9.2%): enters into three-week exclusive negotiations with Franchise Group for possible acquisition of company for $60.00 per share
J.M. Smucker (SJM 122.00, -1.26, -1.0%): beats by $0.34, beats on revs; guides FY23 EPS below consensus, revs above consensus
Tractor Supply Co. (TSCO 196.52, -2.57, -1.3%): guides Q2 EPS and revenue slightly above consensus; sees comparable store sales growth of 5%