Target is set to report earnings before the bell. Here's what the Street expects
The big-box retailer will report its holiday-quarter earnings and share its strategy to sustain pandemic-related gains at an investor day Tuesday.
compared with the same period a year earlier. Customers shopped more frequently with the company and bought more when they did. Combined transactions online and in stores rose 4.3% and average tickets grew by 12.3% during the two-month period compared with a year earlier, the company said.
Analysts expect the retailer's same-store sales to jump by 16.8% for the fourth quarter, according to StreetAccount estimates.In the months ahead, Target will face challenging comparisons because of its heightened sales levels during the global health crisis. It will have to hold on to customers and their wallets as Covid-19 cases decline and more Americans get vaccinated, which could prompt people to potentially return to old habits. Instead of consolidating trips at a Target store or on its website, shoppers may spend weekends at the mall again or put more of their money toward dining out, going to the movies or traveling.
As of Monday's close, Target shares have risen nearly 81% over the past year and brought the company's market value to $93.19 billion.This story is developing. Please check back for updates. Read more: CNBC »
Tulsa race massacre and OKC bombing products 'of the same kind of hatred': AG Garland
Attorney General Merrick Garland visited the sites of two of the worst domestic terrorist attacks in U.S. history to highlight the impact of racial hatred.
It's boring to sit at home alone, looking for someone to spend time with