Target reports fourth-quarter earnings today as new CEO Michael Fiddelke unveils his turnaround strategy. Wall Street expects earnings per share of $2.15 on revenue of $30.48 billion, both falling short of year-ago results. The Minneapolis retailer faces significant headwinds including three consecutive quarters of declining customer traffic and lower average spending. The company projects full-year adjusted earnings between $7 and $8, down from $8.86 previously. Target's sales have remained flat for four years as consumers pull back on discretionary purchases amid inflation and higher prices on essentials. The company cut 1,800 corporate jobs in October and acknowledged that its DEI rollback hurt sales and caused market share losses to competitors. Investors will scrutinize Fiddelke's plan to reverse the sales slump and restore customer confidence in the struggling big-box retailer.
