Target is scheduled to report its second-quarter results before the market opens Wednesday. Here is what you need to know.

NET INCOME: The retailer is expected to post a profit of $1.05 billion, compared with $935 million the year before, according to FactSet.

ADJUSTED EARNINGS: Stripping out certain one-time items, earnings are expected to come in at $2.34 a share, compared with $2.05 a share the prior year.

SALES: The company is expected to report $26.15 billion in sales, compared with $25.21 billion in the year-ago quarter, according to FactSet.

SAME-STORE SALES: Analysts expect same-store sales to be up 2.4%.

The stock has risen 24% during the past three months and recently traded around $153.31.

WHAT TO WATCH:

-- Target has been working to turnaround its business under Chief Executive Michael Fiddelke, who took the helm earlier this year, with efforts to revamp some categories and funnel further investment in others like grocery. The company reported its strongest quarterly sales gain in years for the first quarter, offering the first sign that its strategies are paying off.

-- Wall Street will be paying particularly close attention to any lift from Target's efforts to refresh its product assortment. Since the start of the year, Target has expanded its wellness category, added beauty products, reset its home decor lineup and introduced a back-to-school line with many new products, Jefferies analysts said in a note. The moves mark one of the company's broadest assortment refreshes in years, and are beginning to translate to improved traffic trends, the analysts said.

-- Analysts also will be watching Target's results for signals around the health of the consumer. During its latest quarterly earnings call, Target executives set a cautious tone for the rest of the year, noting that some shoppers likely spent more freely at the start of this year because of tax refunds and said the economic environment remains unpredictable. D.A. Davidson analysts, however, said they expect the company to benefit from a supportive spending environment, pointing to retail sales data that showed sales accelerated during the three months corresponding to Target's second quarter from the first quarter.