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Target will report earnings before the bell — here’s what to expect

Target’s inventory was up 43% year over year in the first quarter and 36% in the second quarter. The retailer cut its outlook twice, first in May and then in June, saying it would take a hit to profits as it cancelled orders and aggressively marked down TVs, small kitchen appliances and more to make space for fresh merchandise for the back-to-school and holiday season.

This summer, the company also said it would stock up more on high-frequency categories like food and essentials, as Americans pulled back in other areas like home and apparel.