A Target store in Culver City, California.
Mark Ralston | AFP | Getty Images
Target is set to to report its fourth-quarter and full-year earnings Tuesday before the bell.
Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv:
- Earnings per share, adjusted: $1.65
- Revenue: $23.50 billion
- Same-store sales growth: 1.5%
Target surprised Wall Street in January when it disclosed holiday sales were hurt by with weak sales of toys, electronics and home goods.
The Minneapolis-based retailer has posted sales gains and e-commerce growth, as many other retailers have shuttered stores. It’s also launched thriving apparel brands and added to its private label offerings, including a new activewear line called All in Motion and a luggage line called Open Story.
Target had planned to hold an analyst and investor meeting in New York City on Tuesday morning. It canceled the in-person meeting, citing ”the rapidly evolving situation regarding the coronavirus.” Instead, the company said it would have a webcast.
Target’s shares have gained nearly 50% over the past 12 months, bringing its market value to $55.3 billion.
CORRECTION: This article has been updated to show that Wall Street is expecting earnings per share of $1.65.
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