The Target bullseye logo is seen on the outside of its store at the Lycoming Crossing Shopping Center. <\/p>\n
Paul Weaver | Lightrocket | Getty Images<\/p>\n
Target<\/a> will report earnings on Wednesday morning as the big-box retailer gears up for the holiday season, gets ready for a new CEO<\/a> and tries to snap a sales slump<\/a>.<\/p>\n Here’s what Wall Street expects for the Minneapolis-based retailer’s fiscal third quarter, according to a survey of analysts by LSEG:<\/p>\n Target’s sales have been roughly stagnant for four years as it faces stiffer competition and has grown weaker in some of the areas<\/a> that set it apart in the past, including its eye-catching merchandise, its well-organized stores, and its friendly and helpful customer service. Some customers also boycotted the retailer after it rolled back key diversity, equity and inclusion programs<\/a>, a dynamic that Target blamed in part in May<\/a> for its weaker sales results.<\/p>\n Target expects sales to decline again this year by a low single-digit percentage. It said adjusted earnings per share for the year, excluding gains from litigation settlements, will range from about $7 to $9. Most of that range would come in lower than last year, when adjusted earnings per share were $8.86.<\/p>\n Target announced in August that Michael Fiddelke, the company’s chief operating officer and former chief financial officer, would become its next CEO<\/a>. He will succeed longtime Chief Executive Brian Cornell in February.<\/p>\n On an earnings call in August<\/a>, the day of Target’s CEO announcement,<\/a> Fiddelke laid out his three top priorities<\/a>: reestablishing Target’s reputation as a retailer with stylish and unique items, providing a more consistent customer experience, and using technology more effectively to operate an efficient business.<\/p>\n He said he wouldn’t wait until stepping into the role to make changes.<\/p>\n Last month, Target announced it would cut 1,800 corporate jobs<\/a> \u2014 its largest layoff in a decade. It’s made moves to sharpen its merchandise and get back its fashion sense<\/a>, including sending its designers to rodeos and ski lodges for inspiration. And it’s tweaked its online fulfillment strategy<\/a> at stores to try to free up employees’ time to stock shelves and assist customers.<\/p>\n It also rolled out a policy change that shoppers may notice during the holiday season, which it dubbed the 10-4 program. When store employees are within 10 feet of a customer, Target has asked them to smile and show friendly and welcoming body language, such as waving and making eye contact. When a customer is within 4 feet, Target is asking store employees to initiate a conversation by personally greeting the shopper along with smiling.<\/p>\n\n