Shoppers enter a Target store in Washington, D.C. February 17, 2022.
Nicholas Kamm | AFP | Getty Images
Target will report fourth-quarter earnings ahead of the call and host its first personal investor day since the start of the pandemic on Tuesday.
The big box retailer is expected to get a boost with the holiday season as Americans spent a record amount in retail stores in November and December. During the pandemic, the company gained market share and attracted new customers as shoppers turned to its stores and website to get a wide range of products, from groceries to sweatpants, in a single transaction. Its e-commerce business has also grown significantly over the past two years, as shoppers received online pickup orders and received home delivery through Target Shipt.
Now the company must show it can compete for consumers’ time and money as people juggle other spending priorities in an opening world and feel the sting of inflation.
Investors will learn about Target’s outlook and more details on its strategy at an event in New York on Tuesday.
Here’s what analysts expect for the fourth fiscal quarter ended Jan. 29, according to Refinitiv’s consensus forecast:
- Earnings per share: $2.86 (expected)
- Revenue: $31.39 billion expected
Target shares are up about 7% over the past year as of Monday’s close. The stock closed at $199.77 on Monday, up less than 1%. The market value of the company is $95.71 billion.
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