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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"People with only $100 to spend are still only spending $100 on things! And we raised prices and everything!"
These rubes figured out what compound interest is! We'll be ruined if people only but what they can afford!!
underrated comment.