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.
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.