Earnings on Tap: Target
Same-store sales could be the focal point on this big-box retailer.
Same-store sales could be the focal point on this big-box retailer.
Target (TGT) reports quarterly results before the bell Wednesday, with a consensus of Wall Street estimates forecasting earnings of $0.95 per share, compared with $0.90 in the same quarter last year.
Investors will want to know how sales fared, especially at stores not opened recently, and whether the retailer's recent price increases in the wake of rising input costs affected volumes.
Retailers that have reported earnings so far have shown same-store sales to be somewhat muted, and analysts will be eyeing Target's forecast for the following quarter.
Target shares are currently about fairly valued, according to Morningstar analysts, but the valuation takes into account a moderate acceleration in same-store sales in 2011.
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