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Target will report earnings before the bell. Here's what to expect

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Big-box retailer Target reports earnings days after it said it would lower prices on thousands of groceries and everyday items.

Target will report earnings before the bell on Wednesday, days after rival Walmart posted its quarterly results.Targetthat it anticipated comparable sales would range from flat to up 2%, and adjusted earnings per share would range from $8.60 to $9.60 for the full year.That would represent a drop in sales from $25.32 billion in the year-ago quarter.

Target acknowledged consumers' inflation weariness — and competition with discounters such as Walmart, Aldi and others — with its price cuts earlier this week. Target said it is concentrating most discounts on grocery staples including milk, meat, bread, fruit and vegetables, as well as paper towels and diapers.Shares of Target closed Tuesday at $TK, bringing its market value to $TK. As of Tuesday's close, shares of Target are up/down TK%, lagging/leading the S&P 500.

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