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Target is the latest retailer set to report quarterly earnings this week.
RACHELLE AKUFFO: Well, we're looking at my stock to watch, and for tomorrow, it will be Target. Now they're actually reporting before the bell Wednesday, but will it share the same fate as fellow retailer, Walmart, with its mixed earnings picture? Now, Target earnings per share expected at about $3.07 on revenue of $24.3 billion. As you can see, the stock right now down in afterhours trading there.
But we'll have to see if the higher prices that consumers paid of their stores due to inflation will be enough to offset the added costs that they saw throughout the supply chain, as well as with logistics. Now, Target does have a higher price point than Walmart, so their shoppers might be in a better position to weather that high inflation for longer. But after a strong 2021 performance, Q1 data might not look quite as strong in terms of same store sales and margins. Dave.