1032 ET - Target's inventory comes with a mixed bag. On one end, the retailer saw improvements in inventory shrink in 1Q - an industry term that includes theft as well as other forms of inventory loss - as rates continued to moderate from extreme levels seen in 2022 and 2023, says CEO Brian Cornell on an earnings call. But inventory in 1Q was up 11% from a year earlier, and rightsizing efforts put some pressure on profit in the quarter. Chief Operating Officer Michael Fiddelke says rightsizing inventory will likely lead to some incremental markdowns and receipt adjustment costs in 2Q. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

May 21, 2025 10:32 ET (14:32 GMT)

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