Mar 05, 2024 From CNBC:

Target is set to report its holiday-quarter results and year-ahead outlook on Tuesday. Wall Street analysts expect earnings per share of $2.41 and revenue of $31.83 billion for the company’s fourth quarter. Target has been facing declining comparable sales, with a focus on attracting value-focused shoppers with low prices and higher-frequency categories.

Compared to Walmart, Target’s smaller grocery business poses a challenge. Grocery drives about 20% of Target’s annual sales, while it accounts for nearly 60% of Walmart’s annual sales in the U.S. Some Target stores are losing pharmacies, as CVS Health plans to close select locations in Target stores.

Target will hold a financial meeting with investors in New York City on Tuesday. The company’s shares have risen nearly 6% this year, closing at $150.49 apiece on Monday. Target’s market value stands at nearly $70 billion. Stay tuned for updates on this breaking news.

Read more at CNBC: Target (TGT) earnings Q4 2023