Target will report earnings before the bell — here’s what to expect


A sign outside of a Target department store on June 07, 2022 in Miami, Florida. Target announced that it expects profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory.

Joe Raedle | Getty Images

Target on Wednesday will report its fiscal third-quarter earnings, as the big-box retailer tries to clear through an abundance of extra inventory and woo holiday shoppers.

Here’s what Wall Street is expecting, according to Refinitiv:

  • Earnings per share: $2.13
  • Revenue: $26.38 billion

Target’s inventory was up 43% year over year in the first quarter and 36% in the second quarter. The retailer cut its outlook twice,

Source cnbc.com

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