1. Based on the observed data, which of the four quarters (Qs) is normally best for Target? Please give the reason why.

Target was mentioned in the chapter as a company that has a high degree of seasonality (and associated working capital issues). Let’s use the Internet to examine the seasonality.
Go to www.tai-get.com. Click on “About Target.” Click on “Investors.” Click on “Earnings Estimates.” You will see a number of years of data, both historical and future.