Target Corp. (TGT) is expected to report Q1 earnings before the market open on Wednesday, May 19 with a conference call scheduled for 10 am ET.
Analysts are looking for a profit of 86c on revenue of $15.58B. The consensus range is 73c-90c for EPS, and revenue of $15.16B-$15.9B, according to First Call. Target's March same-store sales were strong, up 10.3%, while April SSS were better than analysts expected even though they fell 5.9%. Following the April sales results, Target said it expected that Q1 EPS will meet or exceed the First Call consensus estimate.
During the quarter Target announced plans to sell Amazon.com's (AMZN) Kindle e-reader. Barron's said shares of the retailer are poised to rise further after significant gains in the last 12 months. In addition to having fewer clearance items, Barron's noted that the company's credit card business has shown signs of stabilizing.
Analysts and investors will listen for comments on how the company views consumer spending as well as for comments on updates of older stores which include better video game displays and larger grocery sections. In last year's Q1, Target reported EPS of 69c on revenue of $14.83B.