Someone, somewhere had a serious case of fat finger and overordered too much chit:

Target will SLASH prices on unwanted items headed for the clearance rack as it tries to get rid of $15.1 billion in piled-up inventory: Shares slide 4% as investors are warned that profits will take a short-term hit

Target has announced that it will cut prices and cancel orders for thousands of its products, as part of a frantic effort to clear out billions in backed-up inventory

The pent-up products consists of bulky items such as furniture, that were a commodity during the pandemic but have fallen out of favor in recent months

The company says it had nearly $15.1 billion of inventory as of April 30, the end of the first first fiscal quarter

The amount serves as nearly 50 percent more than that seen just a year ago

https://www.dailymail.co.uk/news/article-10893901/Target-SLASH-prices-unwanted-items-tries-rid-15-billion-inventory.html