Target Corp. is optimistic heading into the critical holiday shopping season after a strong third quarter.
The holiday shopping season can make up 40 percent of a retailer’s annual revenue – and Target expects this year to be “highly competitive and promotional,” said Kathryn Tesija, executive vice president of merchandising.
“For the holiday season, consumers anticipate spending slightly more than last year, but indicate they’ll be focused on value, pricing and promotions,” she said on a call with analysts this week. For the fourth quarter, which ends in January, the company anticipates adjusted earnings of $1.64 to $1.74 per share. Analysts predict $1.51 per share.