The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Target lowering prices on 5,000 frequently bought items

by admin May 21, 2024
May 21, 2024
Target lowering prices on 5,000 frequently bought items

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue.

The company said in a statement that the price cuts are concentrated in grocery staples like milk, meat, bread, fruit and vegetables, as well as paper towels and diapers, with many cuts affecting its company-owned Good & Gather and Everspring brands.

It had already cut prices on some 1,500 other items.

“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,” said Rick Gomez, executive vice president and chief food, essentials and beauty officer at Target. “Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs.”

As the rate of annual inflation remains stuck above 3% and the Fed’s key interest rate remains unchanged, many consumers are starting to pull back on spending and becoming more selective about what they purchase.

“Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,” McDonald’s CEO Chris Kempczinski said on the company’s conference call in late April.

One of Target’s chief competitors, Walmart, recently signaled that even higher-income consumers were turning toward its offerings as “wallets are still stretched.”

“We’ve got customers that are coming to us more frequently than they have before and newer customers that we haven’t traditionally had, and they’re coming into a Walmart whether it’s a virtual store online, or whether it’s one of our physical stores,” said Walmart CFO John David Rainey in an interview with CNBC.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
As their customers age, department stores chase younger shoppers
next post
Four minors found working at Alabama poultry plant run by same firm found responsible for Mississippi teen’s death

Related Posts

Tesla shares plunge 15%, steepest drop in five...

March 11, 2025

Trump made millions on guitars, Bibles and watches...

June 17, 2025

Ulta Beauty CEO outlines plans to boost sales...

June 2, 2024

How crazy popcorn buckets became big business for...

February 20, 2025

Chrysler recalling 338,000 Jeep Grand Cherokees over potentially...

March 5, 2024

First the token, now the swipe: NYC’s subway...

March 20, 2025

Goodbye to ‘bags fly free’ on Southwest Airlines,...

March 17, 2025

How Delta made itself America’s luxury airline —...

June 27, 2024

NBA star Russell Westbrook launches AI-enabled funeral planning...

May 8, 2025

Universal’s new Epic Universe park set to generate...

April 16, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      September 16, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 16, 2025
    • Ilhan Omar’s committee assignments under threat after ‘disparaging Charlie Kirk’s legacy’

      September 16, 2025
    • Maurene Comey sues DOJ for ‘unlawful’ firing, demands reinstatement

      September 16, 2025
    • Israel’s military chief backs Witkoff plan over Netanyahu’s Gaza takeover, sources say

      September 16, 2025
    • White House pushes for $58M security increase in wake of Kirk assassination

      September 16, 2025

    Categories

    • Business (1,383)
    • Politics (4,494)
    • Stocks (1,651)
    • Uncategorized (45)
    • World News (1,376)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved