Target sees FY23 capital expenditures $4B-$5B

Says 23rd straight quarter of comp sales growth. Says path has been unpredictable. Says leaning into growth in on discretionary categories. Says investing in Roundel. Says environment remains volatile and expects 2023 will have its own unique challenges. Says expects increased profitability in 2023. Says cautious inventory positioning. Says expects slower pace of capex in 2023. Says no plans to repurchase any shares. Says positioned to benefit from number of tailwinds on the gross margin line. Sees inventory shrink, soft discretionary sales and promotional intensity as headwinds. Sees Q1 operating income 4%-5%. Sees FY23 operating income over $1B. Sees FY23 capital expenditures $4B-$5B. Comments and guidance taken from Q4 earnings conference call.