Bullet points of Target will report earnings before the bell. Here's what to expect
- Target will report quarterly earnings on Wednesday, with Wall Street expecting earnings per share of $2.18 and revenue of $25.21 billion.
- The company has been struggling with weaker sales and profits, with comparable sales declining for the past four quarters.
- Target has been trying to rev up sales and drive higher foot traffic by cutting prices on frequently bought items and introducing a new paid membership program.
- The company is also focusing on the back-to-school season, which is a big sales period for the retailer.
- Consumer spending came in stronger than expected in July, which could bode well for Target.
- Target's mix of sales looks different than Walmart's, with only 23% of its revenue coming from groceries compared to about 60% for Walmart.
- Walmart's quarterly results could threaten Target, as the company's market share gains are coming from upper-income households that may be choosing Walmart over Target.
cnbc.com_2 / CNBC Business by Layer3.news
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2024-08-21 04:05:05
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"content": "Bullet points of Target will report earnings before the bell. Here's what to expect\n- Target will report quarterly earnings on Wednesday, with Wall Street expecting earnings per share of $2.18 and revenue of $25.21 billion.\n- The company has been struggling with weaker sales and profits, with comparable sales declining for the past four quarters.\n- Target has been trying to rev up sales and drive higher foot traffic by cutting prices on frequently bought items and introducing a new paid membership program.\n- The company is also focusing on the back-to-school season, which is a big sales period for the retailer.\n- Consumer spending came in stronger than expected in July, which could bode well for Target.\n- Target's mix of sales looks different than Walmart's, with only 23% of its revenue coming from groceries compared to about 60% for Walmart.\n- Walmart's quarterly results could threaten Target, as the company's market share gains are coming from upper-income households that may be choosing Walmart over Target.\n",
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