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,