A customer shops at a Target store in Miami, Florida, on May 20, 2024.
Joe Raedle | Getty Images
Target will report its fiscal first-quarter earnings on Wednesday, just days after it said it would cut prices on thousands of groceries and everyday items.
The Minneapolis-based retailer has set low expectations for the year ahead. It said in early March that it anticipated comparable sales would range from flat to up 2%, and adjusted earnings per share would range from $8.60 to $9.60 for the full year.
Here is what Wall Street expects for the company, based on a survey of analysts by LSEG:
Earnings per share: $2.06Revenue: $24.52 billion
That would represent a drop in sales from $25.32 billion in the year-ago quarter.
Similar to other retailers, Target has had to contend with consumers who are still not spending as freely on clothing, home goods or other discretionary items because of price fatigue. The cheap, chic retailer has been particularly hurt by this dynamic because it gets less of…
2024-05-21 23:01:01
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