Earnings preview for Target's Q4/FY2006 results

With Wal-Mart's latest Q4 and FY2006 earnings in the bag, will competitor Target Corp. (NYSE:TGT) have an even better year in terms of financial results than its much-larger competitor? We'll see tomorrow, as I liveblog Target's Q4 and FY2006 full-year results right here at tgt.bloggingstocks.com at 10 am EST.

Target is expected to have $1.27 in earnings per share for its full fiscal year just completed as of 1-31-07, according to analysts consensus estimates. Will the $52 billion discount retailer meet, beat, or fall short of those expectations? I'm putting my guess on beat, as I expect Target Corp. to assail estimates by posting EPS of about $1.32 tomorrow once final numbers are released.

With that, Target's same-store sales increase for the month of February is expected to be in the 4% to 6% range. Target, while not as large as Wal-Mart Stores(NYSE:WMT), seems to be making all the right moves and all the correct decisions on how to grow in a profitable way while wrangling marketshare from the Bentonville giant in a smart, controlled fashion. Take that, Wal-Mart.

Also check out some other earnings reports that we're following, and let us know what you're expecting.