Target Corporation (TGT)
Inventory turnover
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 101,807,000 | 105,338,000 | 97,146,000 | 87,084,000 | 73,477,000 |
| Inventory | US$ in thousands | 11,886,000 | 13,499,000 | 13,902,000 | 10,653,000 | 8,992,000 |
| Inventory turnover | 8.57 | 7.80 | 6.99 | 8.17 | 8.17 |
February 3, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $101,807,000K ÷ $11,886,000K
= 8.57
Target Corporation's inventory turnover has shown a fluctuating trend over the past five years. The inventory turnover ratio measures how many times a company's inventory is sold and replaced over a certain period. It indicates the efficiency of managing inventory levels.
In the most recent fiscal year ending February 3, 2024, Target Corporation's inventory turnover was 8.57, showing an increase from the previous year. This indicates that the company sold and replaced its inventory approximately 8.57 times during the year. A higher inventory turnover ratio generally suggests more efficient inventory management.
Comparing this to the previous years, the inventory turnover ratio has been relatively stable, with fluctuations around the 8-turnover mark. This suggests that Target has been consistent in managing its inventory levels over the years.
Overall, Target Corporation's inventory turnover of 8.57 in the latest fiscal year reflects efficient inventory management, indicating that the company is effectively balancing its inventory levels to meet consumer demand while minimizing excess inventory costs.
Peer comparison
Feb 3, 2024