Retail Earnings Week: A Crucial Test of Consumer Spending

This week's earnings reports from five major retailers - Home Depot, Lowe's, Target, TJX Companies, and Walmart - will provide a comprehensive snapshot of the US consumer's spending habits heading into the second half of 2026.

Analysts expect modest growth in earnings per share (EPS) from these companies, with Home Depot and Lowe's forecasted to post only 1% and mid-single digit EPS growth, respectively. This is due to a housing market that remains stuck near multi-decade lows in existing-home turnover.

Target enters this week's print up around 55% year-to-date, with analysts looking for EPS of roughly $2.35 (up about 13% year over year), as investors watch for proof that the retailer's operational turnaround has staying power.

TJX Companies is projected to report EPS of about $1.19 on revenue near $15.1 billion, up roughly 5% year over year, as off-price retail continues to benefit from value-seeking shoppers across income levels.