Target says performance over the last few years has not been acceptable

Says needs to move faster. Says both traffic and basket trends improved. Says sales trends were notably stronger in June and July than in May. Says expects more favorable comparisons in the back half of the year. Says value is very top of mind for consumers. Says path to return to growth centers around style and design. Says there are some categories where there is some work to do. Says has strong pipeline of new stores. Says far more often than not, new stores are exceeding expectations. Says remodels is an important step forward. Says will continue to put capital behind technology. Comments taken from Q2 earnings conference call.