Target’s $10 billion mistake.

Financial Performance - Comparable store sales are declining [1] - Gross margin is contracting [1] - Earnings are down 20% year-over-year [1] Strategic Issues - The company needs to do something dramatic [1] - The company has underinvested in IT, supply chain, and technology [2] - The company made a mistake by doing $10 billion in share repurchases in late 2021/early 2022 [2] - The $10 billion should have been used to close technology and supply chain gaps with Walmart [3]