Financial PerformanceDecelerating discretionary category trends, unexpected cost pressures, and the resulting ~20% EPS miss were unsettling, and management needs to demonstrate an ability to manage the operating side of the business more effectively.
Market CompetitionShare loss is a valid concern, with TGT trailing peers like AMZN, COST, and overall retail sales.
Supply Chain IssuesSupply chain challenges pressure margins, with 3Q's ~20bps gross margin decline driven entirely by higher supply chain costs.