Target retires $600 million of debt in Q2 via ‘strong’ balance sheet

By Devika Patel

Knoxville, Tenn., Aug. 16 – Target Corp. has a “strong” balance sheet, which enabled the company to retire about $600 million of debt in its second quarter.

“We retired about $600 million of our long-term debt [in the second quarter],” executive vice president and chief financial officer Cathy R. Smith said on the company’s second quarter earnings conference call on Wednesday.

“We are so fortunate to have such a strong business and balance sheet, which allow us to invest while many of our peers are pulling back,” Smith said.

Target is a discount merchandise retailer based in Minneapolis.

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