Target is Lowering Prices on 5,000 Items — Including Groceries [Yahoo! Finance]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: Yahoo! Finance
Target is hoping to lure customers back with a simple new premise — selling things at a price point people can actually afford. On Monday, the retailer announced it's dropping prices on 5,000 "common" things, including plenty of grocery items, in an effort to both help consumer's wallets and win them back after posting declines in comparable sales for its fourth straight quarter in a row, the Associated Press reported. And a lot of that slump, Target's CEO Brian Cornell told reporters, is due to inflation on groceries and household items. As the AP reported, Cornell said inflation is still up 20% to 30% from pre-pandemic levels, which is still putting a “strain on consumer wallets.” "We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more," Rick Gomez, executive vice president and chief food, essentials, and beauty officer, at Target, shared in a statement . "Our teams work hard to deliver great value every day, and thes
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