3 Things to Watch When Target Reports Quarterly Earnings Wednesday

Target (TGT) is scheduled to report second quarter results before the markets open on Wednesday, August, 19th. Analysts are looking for earnings per share of $1.11 on sales of $17.4 billion, in line with the $17.41 billion the Minneapolis-based retailer reported during the same quarter last year. Flat revenue growth projections come on the heels of increased customer promotions. ‘It’s a pretty competitive environment,’ said S&P Capital IQ equity analyst Efraim Levy, who maintains a HOLD rating on the stock. ‘I think Target is still trying to win back customers they lost following its 2013 data breach.’ Though from a financial perspective, he thinks the fallout from the data breach is behind the company. Ahead of its earnings release Wednesday, the company made a splash on Monday, by promoting its CFO John Mulligan to COO and naming Cathy Smith as the retail giant’s new CFO. TheStreet’s Scott Gamm reports from New York.