Here’s everything you need to know about Target’s earnings

Mark Ralston | AFP | Getty Images

Shoppers at a Target store in Culver City, California.

Target is set to report third-quarter earnings before the bell on Wednesday.

Here’s what Wall Street is expecting, based on a survey of analysts by Thomson Reuters:

• Earnings per share: 86 cents, adjusted.
• Revenue: $16.61 billion.
• Same-store sales: an increase of 0.4 percent.

The Minneapolis-based big-box retailer is in the midst of a major overhaul to its business, as it fights to keep pace with retail rivals such as Wal-Mart and Amazon.

Target has opted to invest more than $7 billion in capital in itself over the next three years, using those funds to launch additional private-label brands, grow in grocery, open smaller-format stores and remodel existing locations.

Meantime, the company is reevaluating its pricing strategy, telling customers in September it would be slashing prices on thousands of items and instead focusing on only the most “compelling” sales.

This holiday season, Target plans to hire 100,000 seasonal workers — a 40 percent increase year-over-year — with hopes of creating a better in-store experience for customers and fulfilling online orders faster and more efficiently.

“We are also incrementally more positive at TGT given new product, brand execution, plus attractive valuation but caution that consumers may have yet to receive the value messaging at TGT,” Cowen & Co. analyst Oliver Chen wrote in a recent note to clients.

As of Tuesday’s market close, Target shares have fallen more than 15 percent in 2017.

This is a developing story. Please check back for updates.