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.
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