Target CEO says shoppers are pulling back, even on groceries
Target CEO says shoppers are pulling back, even on groceries
Target is doubling down on its cautious outlook as it prepares for the holiday shopping season.
Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets.
In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units.
“But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.
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Hmmm. We raised the prices on EVERYTHING and shoppers aren't buying as much.
No shit.
If shoppers are buying less they should just try increasing the price. More revenue per sale you don't even need those lousy shoppers who left! What could go wrong?
I mean, what does a banana even cost, $10?
$10. you lucky. I had to trade my car for 1 banana.
Fair deal. Not everyone has the gas money to bother with a car. Measuring things is free.