According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Target’s strategy for mitigating supply-chain constraints by over-ordering inventory had severely limited the Company’s ability to timely respond to evolving consumer behavior;
- as a result, the purported “massive influx of insights” gained from the extraordinary heightened demand during the pandemic could not be leveraged by Target to react to rapidly changing trends; and
- as a result of Target’s inability to timely react to changes in consumer trends, Target’s sales declined and the Company was left with an overabundance of inventory, forcing Target to take large markdowns, and severely impacting the Company’s financial results.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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