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Earnings Preview: Target Corp.

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In Brief...

Target Corp. (TGT) is expected to report Q3 earnings before the market open on Wednesday, November 17 with a conference call scheduled for 10 am ET. The consensus range is 64c-70c for EPS, and revenue of $15.48B-$15.82B, according to First Call. Target's September same-store sales were up 1.3%, while October SSS were at the low end of its expectations with a 1.7% gain. During the quarter, Target announced plans to sell Apple's (AAPL) iPad at its stores, said it would look to open 200 stores in Canada, and said it would discount over 1,000 toys this holiday season. As for quarterly results, Target said in August that the First Call median estimates for Q3 and Q4 EPS of 68c and $1.39 are "responsible single point estimates within a range of possible outcomes.

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