Target earnings are coming before the bell — here’s what the Street expects


Mark Ralston | AFP | Getty Images

A Target store in Culver City, California.

Target is expected to report first-quarter earnings before the bell on Wednesday.

Here’s what Wall Street expects:

  • Earnings: $1.39 per share, according to Thomson Reuters
  • Revenue: $16.58 billion, according to Thomson Reuters

The Minneapolis-based retailer has been forging ahead with a plan to reinvest more than $7 billion back into the company through 2020. The money is largely being spent on opening smaller-format stores, redesigning existing locations, rolling out more private-label brands, and upgrading Target’s mobile app, Cartwheel.

Target’s remodeled stores are beginning to feature more fresh food, produce, and prepared options for shoppers in a hurry.

The retailer has also been focusing on fulfillment and boosting its delivery service. As part of these efforts, it acquired delivery service Shipt for $550 million. Its rivals are now making similar investments in technology, including Kroger’s recent announcement it is partnering with British online grocer Ocado.

This is breaking news. Please check back for updates.

Source link

Products You May Like

Articles You May Like

Buy Square shares because its sales will soar from its new services to restaurants: Instinet
House passes farm bill 213-211 that could cut food stamps for millions
What most people get wrong about their credit score
China, Middle East are spending on Sudan, but US policy is ‘confused’
All global currencies will become cryptocurrencies, Circle CEO says

Leave a Reply

Your email address will not be published. Required fields are marked *