This Week: Tyson Foods, Walmart, Target Results
A look at some of the key business events and economic indicators upcoming this week:
Tyson Foods is expected to say its profit shrank last quarter when the Springdale, Arkansas poultry processor reports its fourth-quarter results today. Wall Street forecasts Tyson’s profit fell to $1.19 a share from $1.21 a year ago. That would follow lower profit and sales in the third quarter, when Tyson said the COVID-19 pandemic was raising costs.
Walmart’s profit is forecast to have grown again in its fiscal third quarter. Wall Street expects the world’s largest retailer made $1.18 in the August-October period, up from $1.16 a year earlier. The Bentonville, Arkansas-based chain has emerged as one of the few lifelines to millions of people during the pandemic, when a huge swath of stores that sell non-essential merchandise temporarily shut down. Walmart reports earnings on Tuesday.
Minneapolis-based retailer Target reports its third-quarter results on Wednesday. Wall Street expects its profit grew to $1.60 a share, up from $1.36 a year earlier. Like rival Walmart, Target has benefited this year as it supplies household goods that consumers need during a pandemic. In August Target abandoned its annual financial goals, citing the highly fluid and uncertain outlook.
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