Retail Earnings, Fed Minutes, Impeachment Hearings: 3 Things To Watch For Wednesday
Retail earnings are kicking into high gear with Target and Lowe’s reporting on Wednesday morning. Their earnings will follow Home Depot and Kohl’s disappointing results on Tuesday that caused their stocks to tank. Kohl’s quarterly earnings and sales missed estimates due to an “increasingly competitive promotional environment” and the retailer also slashed its profit outlook for the year. Home Depot cut its 2019 sales forecast and also said it expects same-store sales to be lower than expected this year. Its quarterly sales fell short of expectations while earnings beat. Wall Street analysts estimate Target earned $1.19 per share in the third quarter, a small increase from an EPS of $1.09 from the same quarter a year ago, according to FactSet. The consensus for Lowe’s quarterly earnings is $1.35 per share, compared to an EPS of $1.04 in the third quarter of 2018, according to FactSet. Read more at CNBC.
