People were seen in the parking lot of a Target store in Selinsgrove.
Paul Weaver | Light Rocket | Getty Images
Target The company will report fiscal third-quarter earnings on Wednesday and provide the latest clues about the holiday season for retailers as it tries to attract deal-seeking shoppers.
According to a survey of analysts by London Stock Exchange Group (LSEG), the discounter is expected to report the following:
- Earnings per share: $2.30
- income: $25.9 billion
The big-box retailer is known for its affordable, trendy clothing, home goods and other discretionary items, but has struggled to attract steady foot traffic and higher sales. After years of rising food and home prices, shoppers have become more discerning when it comes to their purchases.
To appeal to price-conscious consumers, Target announced in May that it would Approximately 5,000 frequently purchased items have reduced pricesincluding diapers, bread and milk. In October, the company launched another round of price cuts, saying it would cut prices on more than 2,000 items during the holiday season, including cold medicine, toys and ice cream.
Target said it will lower prices on more than 10,000 items by the end of the holiday season this year.
However, these price cuts weren’t enough to significantly boost Target’s performance. The discounter remained cautious in August even though its quarterly results beat Wall Street expectations. The company said it expects comparable sales this year, a measure that tracks sales online and at stores open for at least 13 months, to be in the bottom half of its previously flat range, or to grow 2%. Target raised its full-year profit forecast in August, saying it expected adjusted earnings per share to be between $9 and $9.70.
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