Target Corp (NYSE:TGT) is expected to post lower-than-expected sales in its upcoming third-quarter earnings report, according to Citi analysts.
Citi projects comparable sales growth at 1%, compared to the market’s 1.6% expectation.
Earnings per share, however, could surprise to the upside with Citi forecasting $2.47 compared to the $2.30 consensus and management's guidance of between $2.10 and $2.40.
“We believe that softer sales were in part the result of unseasonably warm weather, and that management will be able to highlight better performance in non-weather affected categories,” said Citi analysts.
Target shares are currently up 4.7% year to date. Third-quarter results are due on Wednesday November 20.