Target is set to report earnings before the bell. Here's what to expect

Target is expected to report its fiscal second-quarter results Wednesday morning as the retailer offers a window into its turnaround progress.

Target is set to report earnings before the bell. Here's what to expect

TL;DR

  • Target is expected to report fiscal second-quarter results.
  • The results will indicate the progress of CEO Michael Fiddelke's turnaround plan.
  • Investors are looking for signs of consistent growth and a return of the core customer.
  • Consumer spending is pressured by macroeconomic conditions.
  • Wall Street expects $2.33 earnings per share and $26.14 billion in revenue.
  • Last quarter, Target reported a 5.6% increase in same-store sales, the first positive number in five quarters.
  • The company raised its full-year revenue guidance but maintained a cautious outlook.
  • Focus is on inventory, product selection, and sales strategy changes.
  • The baby and kids category was a strong performer last quarter.
  • Analysts at Deutsche Bank Research remain cautious, awaiting more evidence of sustainable market share gains.
  • Target's stock has increased by over 55% this year.