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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True. No one here is buying their groceries at Target.
Maybe one day this town will get a Target and I can continue not buying groceries from it.
Meanwhile, the Krogers and Walmarts seem to have plenty of people in them.
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I just saw the grocery prices at a Target for the first time in years recently and was horrified at how bad they were. I'm sure it's regional, but it was nearly double my grocery store on some items and the selection was terrible.
That was my experience 10 years ago.
Not according to lots of other people posting here.
Selection is bad, price is meh. If you have the red card for the extra 5% it helps balance things out some. I go because it's convenient where I live, but I wouldn't go out of my way to buy groceries there.
It's true for me. Walmart is cheaper, but target has the brands/varieties I enjoy the most. Used to get the extra 10% employee discount from my husband, but still getting the 5% from the credit card.
My target has mostly the exact same brands as the Kroger next to it, completely lacks the international/Asian grocery aisle the Kroger has, and charges about 50% more for everything except beer, on average. Even when Target is busy, there's maybe ever like three people in the grocery section.