“In planning for the remainder of the year, we believe it's prudent to expect that current top line pressures will continue in the near term.”

In context

“g and continuously planning with those vendor partners, we're moving thoughtfully and contemplating a wide range of potential scenarios. And we're building our plans to preserve maximum flexibility while protecting our business in the face of massive potential costs. At the same time, we remain committed to supporting this year's investment plans in support of our long-term growth. These investments include an outstanding pipeline of new stores, ongoing remodels of existing locations, and robust investments in technology and our supply chain. Because of this company's long history of disciplined financial management, we have a strong balance sheet and ample cash that will allow us to navigate through these near-term challenges as we continue to invest in making us even stronger over time. In planning for the remainder of the year, we believe it's prudent to expect that current top line pressures will continue in the near term. However, the results in the quarter provided several key insights that reinforced our confidence in the underlying strength of our business and Target's continued relevance with American consumers. Among those high points, we saw mid-single-digit growth in our first-party digital business this quarter, led by 36% growth in same-day delivery powered by Target Circle 360. We also saw continued healthy growth in Drive Up, which now accounts for nearly half of our total digital sales. And of course, beyond the direct benefits of rising digital sales, they also fuel the growth of profitable services like Roundel, our retail ad business, and Target Plus, our third-party digital marketplace, both of which saw double digit growth in Q1. Target's strength has been and will always be our products,”