{"id":49044,"date":"2023-08-16T06:38:32","date_gmt":"2023-08-16T10:38:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/target-reports-earnings-soon-what-to-expect\/"},"modified":"2023-08-16T06:38:34","modified_gmt":"2023-08-16T10:38:34","slug":"target-reports-earnings-soon-what-to-expect","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49044","title":{"rendered":"Target Reports Earnings Soon. What to Expect."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

It has been a cruel summer for
\n Target
\n stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales and Pride-related backlash. <\/p>\n

Don\u2019t count on its second-quarter earnings report out Wednesday morning to turn the share price around. <\/p>\n

\n

Wall Street is predicting Target (ticker: TGT) will post its first year-over-year revenue decline since 2019, according to Dow Jones Market Data. Projected sales of $25.2 billion would mark a roughly 3% drop from the year-ago quarter. <\/p>\n

Earnings could fare a bit better. Adjusted earnings will clock in at $1.43 per share, analysts estimate, marking an increase from 39 cents per share a year ago. <\/p>\n

Still, investors are concerned that the company\u2019s results may fall short, with Street sentiment \u201cextremely negative\u201d heading into Wednesday\u2019s earnings report, writes Oppenheimer analyst Rupesh Parikh. <\/p>\n

\u201cInvestors in our conversations remain downbeat towards TGT\u2019s near-term
prospects,\u201d he added. \u201cAmidst these factors, we have less confidence on the share price reaction on the print.\u201d<\/p>\n

Analysts have been lowering their price target estimates ahead of the earnings report. As of Tuesday, the mean target price was $157.81, down from $170.39 on July 31, according to FactSet.<\/p>\n

It\u2019s not just this summer that has been cruel to Target\u2014the last year has been a challenging one for the retailer. In 2022, Target was forced to cut its guidance twice and missed earnings expectations three times. <\/p>\n

2023 hasn\u2019t been much kinder. The stock nosedived in May following Target\u2019s first-quarter earnings report after the company issued second-quarter guidance that was below Street expectations. That spurred a nine-day losing streak, exacerbated by Target\u2019s decision to change or remove certain products from its yearly Pride collection in response to backlash from some of its customers. <\/p>\n

Shares of Target are down 15% this year, and have shed 30% of their value in the last 12 months. <\/p>\n

The Pride controversy may reach beyond Target\u2019s stock price. Wells Fargo analyst Edward Kelly believes it likely reduced store foot traffic and sales, and could even drive the company to lower its fiscal-year guidance. Currently, the company expects comparable sales to range between a low-single-digit percentage decline and a low-single-digit percentage increase, operating income growth of more than $1 billion, and earnings between $7.75 to $8.75.<\/p>\n

On top of the Pride backlash, Target has struggled to navigate the macroeconomic environment. With inflation and interest rates still high, consumers are spending less on discretionary purchases, such as home furnishings and electronics\u2014Target\u2019s forte\u2014and spending more on food and other necessities. <\/p>\n

Until consumers show \u201csustainable interest\u201d in these discretionary categories, it will be difficult for Target to grow sales, wrote J.P. Morgan analyst Christopher Horvers in a note to clients. But a rebound in discretionary spending could take some time to materialize. Economists expect consumer demand to weaken in the second half of the year, dragged down by the resumption of student-loan payments, rising credit-card balances, and slower wage growth. <\/p>\n

While the near-term prospects for Target still seem bleak, some analysts, including Oppenheimer\u2019s Parikh, still believe the company is well positioned for the long run. <\/p>\n

\u201cFor longer-term players, we would continue to take advantage of dips and a
currently depressed valuation,\u201d he wrote.<\/p>\n

Write to Sabrina Escobar at sabrina.escobar@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales and Pride-related backlash. Don\u2019t count on its second-quarter earnings report out Wednesday morning to turn the share price around. Wall Street is predicting Target (ticker: TGT) will […]<\/p>\n","protected":false},"author":1,"featured_media":49045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-49044","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nTarget Reports Earnings Soon. What to Expect. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=49044\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Target Reports Earnings Soon. What to Expect. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=49044\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-16T10:38:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-16T10:38:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692182313_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49044#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49044\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Target Reports Earnings Soon. What to Expect.\",\"datePublished\":\"2023-08-16T10:38:32+00:00\",\"dateModified\":\"2023-08-16T10:38:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49044\"},\"wordCount\":546,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=49044#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49044\",\"url\":\"https:\/\/ifintechworld.com\/?p=49044\",\"name\":\"Target Reports Earnings Soon. What to Expect. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-16T10:38:32+00:00\",\"dateModified\":\"2023-08-16T10:38:34+00:00\",\"description\":\"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49044#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=49044\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49044#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Target Reports Earnings Soon. What to Expect.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Target Reports Earnings Soon. What to Expect. | iFintechWorld","description":"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=49044","og_locale":"en_US","og_type":"article","og_title":"Target Reports Earnings Soon. What to Expect. | iFintechWorld","og_description":"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales","og_url":"https:\/\/ifintechworld.com\/?p=49044","og_site_name":"iFintechWorld","article_published_time":"2023-08-16T10:38:32+00:00","article_modified_time":"2023-08-16T10:38:34+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692182313_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=49044#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=49044"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Target Reports Earnings Soon. What to Expect.","datePublished":"2023-08-16T10:38:32+00:00","dateModified":"2023-08-16T10:38:34+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=49044"},"wordCount":546,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=49044#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=49044","url":"https:\/\/ifintechworld.com\/?p=49044","name":"Target Reports Earnings Soon. What to Expect. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-16T10:38:32+00:00","dateModified":"2023-08-16T10:38:34+00:00","description":"It has been a cruel summer for Target stock. The shares have shed over 20% of their value in three months alone, battered by concerns over slowing sales","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=49044#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=49044"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=49044#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Target Reports Earnings Soon. What to Expect."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49044"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49044\/revisions"}],"predecessor-version":[{"id":49046,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49044\/revisions\/49046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/49045"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}