Posted on 10/22/2024 7:43:37 AM PDT by Diana in Wisconsin
Target is slashing prices on 2,000 items, marking the second time this year that the retailer cut customer costs as it attempts to attract inflation-weary shoppers ahead of the holiday shopping season.
Some prices have dropped effective immediately on a number of items, including home goods, beauty products, food, beverages and toys. In a press release, Target said it “routinely adjusts its prices to remain competitive in markets across the country” and the discounting will continue through December.
Target’s price cuts have boosted customer spending after a string of dreadful quarters for the company. Discounts helped turn around Target’s fortunes: Sales at stores open at least one year increased 2% last quarter, and its profit boomed 36%, according to its most recent earnings report.
In May, Target announced it was going to slash prices on 5,000 items but ended up surpassing that number, cutting prices on 8,000 products. In total this year, the retailer will have discounted more than 10,000 items.
The new round of cuts affects name brands like Lego and Coffee Mate, as well as its house brands. Although prices vary depending on city, Target highlighted some examples with a Magic Bullet blender reduced to $39.99 from $49.99 and a Bluey fire truck toy dropping to $19.99 from $24.99.
Other major retailers, like Walmart, Ikea and Aldi, also have been reducing prices in recent months in an attempt to entice customers to spend money, since many have become more selective in their spending because of inflation.
*SNIP*
Consumer spending makes up about 70% of the US economy, with retail sales comprising a sizable chunk of that. Last week’s report shows that Americans are still opening their wallets despite years of elevated inflation and interest rates that have only recently begun to come down from a bruising two-decade high.
(Excerpt) Read more at channel3000.com ...
Still won’t go there.
Only shirts should be tuckable. Sorry, Target.
They must have huge revenue if they can do this twice in a row. Just proves companies are raising costs more than necessary in every sector of the economy. Such a jerk thing to do to customers.
You can’t cut prices cheaper than shoplifting does.
fixed.
They lost a billion or two trying to crack the Canadian market years ago. The stores were a bit nicer than Walmart but maybe that was because they were relatively new at the time. The prices were a bit more than Walmart too. Price at that level of retail is rather critical and those that shop those stores didn’t find enough incentive to switch. They bled money from the get go and after a couple of years they folded. The CEO at the time said they would break even in about 5 years but they didn’t have the patience to wait that long.
“Good! Keep losing money, Target; ...”
Article: “ ... its profit boomed 36%. “
Cutting prices on Cheap ChyNah Chat ... woo hoo.
Still a NO, thanks, from me, too ;-)
Never cared for them and quit them around 2005. Crappy products and then the restroom thing.
It doesn’t matter if Target is cutting prices. Greedy companies are the sole reason we are experiencing high inflation.
Kamala Harris herself told me that.
Still avoiding them like the plague. J C Penny and Ford too- many terrible companies with their woke crap, but these 3 are the big onesź
Good riddance!
add Macy’s to your list!! I have not spent a dime there since they got rid of their Trump merch in men’s clothing.
One of the items going on sale is that bikini with the hidden “pocket” for our trans friends.
It just didn’t sell as well as they thought it would this year.
Og goodie! Now I can stock up on gay shirts for Chritmas! Maybe they’ve got a tranny Barbie and DIE GI Joe dolls too!
you can give $h!t away, I’m not setting foot in any anti-white male Target.
I don’t care if they discount every single item. I still won’t shop there. Remember them kicking out the Salvation Army Red Kettles during the Christmas holiday.
Targay will need to rely on gay and trans shoppers because I wont give them a dime !
LOL! Perfect. :)
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