Target Corporation (TGT) and Walmart Inc. (WMT) are preparing to report their Q1 earnings results on May 20 and May 21, 2023, respectively. According to the Zacks Consensus, Target is expected to post sales of $24.46 billion, a 2% increase year-over-year, with earnings estimated at $1.37 per share. In contrast, Walmart’s projected sales for the same period are $174.56 billion, reflecting a 5% rise, with earnings expected to reach $0.65 per share.
Walmart has shown strong performance over the past year due to its grocery dominance and successful e-commerce expansion, achieving 24 consecutive quarters of exceeding top-line estimates. Meanwhile, Target has struggled with slowing discretionary demand and inventory normalization issues, leading to three misses in top-line expectations in its last four quarterly reports.
Looking ahead, analysts will focus on key metrics, such as comparable-store sales growth and consumer spending commentary for both companies, as they assess the health of the U.S. retail sector and consumer behavior during uncertain economic conditions.
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