Home Depot, Target and Walmart earnings; retail sales, oil inventories in week ahead
Investors eye key retail earnings reports from Home Depot, Walmart, Target this week
Investors will keep a close eye on key earnings reports from Home Depot, Target and Walmart this week and await the release of retail sales data.
Monday, Aug. 14
The Federal Reserve Bank of New York will release its consumer inflation expectations data Monday. In July, the New York Federal Reserve’s Survey of Consumer Expectations showed Americans expected inflation to remain higher over the next few years.
It will be a relatively quiet day on the economic data front, and no big-name companies will report quarterly results Monday.
Tuesday, Aug. 15
Home Depot will be the first major retailer to report earnings this week. The company missed revenue expectations in the first quarter and lowered its profit and sales outlook for the year.
Last week, the home improvement chain’s stock was downgraded by Telsey Advisory Group amid a housing market weakened by falling home sales and mortgage increases.
Retail sales data as well as import and export prices are also scheduled to be released Tuesday morning.
A Home Depot store (Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images / Getty Images)
The Home Depot Inc.https://foxbusinessp.factsetdigitalsolutions.com/markets/chart?symbol=HD
Wednesday, Aug. 16
Target will lead the day’s earnings as investors keep an eye on the company’s guidance following the retail giant’s sales and revenue slump surrounding the store’s LGBTQ Pride merchandise.
In June, Target saw its market cap lose $15.7 billion as shares approached a 52-week low.
The outside of a Target store (iStock / iStock)
TJX, the parent company of TJ Maxx, Marshalls and Home Goods, will also report earnings before the bell on Tuesday. Cisco Systems is scheduled to report after the market close.
Meanwhile, crude oil inventories, housing starts and building permits and mortgage application data will also be released Wednesday.
Thursday, Aug. 17
Walmart is scheduled to report its quarterly results Thursday morning before the opening bell on Wall Street. The company in May raised its sales and profit outlook for the year after seeing a boost in its grocery and e-commerce business.
A Walmart in Atlanta Feb. 19, 2023. (Dustin Chambers/Bloomberg via Getty Images / Getty Images)