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

Earnings


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.



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