Analysts expect Target to report $1.46 EPS and $24.64 billion revenue as CEO Fiddelke aims to reverse a multi-quarter sales slump.
Target will release fiscal first-quarter earnings Wednesday, with Wall Street forecasting $1.46 per share and $24.64 billion in revenue. The results will gauge consumer strength amid high gas prices and economic uncertainty, key to CEO Michael Fiddelke’s turnaround plan.
The retailer has faced declining sales and customer traffic for multiple quarters, with annual revenue roughly flat for four years. Target expects net sales to rise about 2% this fiscal year, citing improving trends in February. Last quarter, it projected revenue growth in every quarter of 2024.
Target’s stock has fallen over 40% in the past five years. The company recently appointed former Walmart executive Jeff England as chief supply chain officer to bolster its recovery efforts.