Target will report earnings before the bell. Here's what to expect
Will Target's Price Cuts Boost Earnings?
Target is set to report its fiscal first-quarter earnings on Wednesday, following its recent announcement of price cuts on thousands of items. The retailer has projected a modest growth in sales and adjusted earnings per share for the full year, amidst a backdrop of cautious consumer spending on discretionary items. Wall Street anticipates earnings per share of $2.06 and revenue of $24.52 billion, reflecting a decrease from last year's figures. Target's strategy includes focusing discounts on essential groceries and household items, in response to inflation and competition from discounters like Walmart.
What are the expected earnings per share and revenue figures for Target as forecasted by Wall Street analysts for the upcoming quarter?
For the upcoming quarter, Wall Street analysts expect Target to report earnings per share (EPS) of $2.06 and revenue of $24.52 billion. These figures suggest a decline in revenue from the previous year's $25.32 billion for the same quarter.
What specific financial figures does Target expect for its adjusted earnings per share and comparable sales for the full year?
Target has set its financial expectations for the full year with an anticipated range for adjusted earnings per share from $8.60 to $9.60. Additionally, the company expects its comparable sales to range from flat to up 2% for the year4. These projections reflect Target's cautious outlook for the upcoming fiscal period.