American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Target lowering prices on 5,000 frequently bought items

by admin May 22, 2024
May 22, 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
Red Lobster files for bankruptcy, but restaurants will stay open
next post
Four minors found working at Alabama poultry plant run by same firm found responsible for Mississippi teen’s death

Related Posts

JEPQ and QYLD ETFs outlook for 2025: are...

December 17, 2024

Why groceries are so expensive — and how...

May 27, 2024

Europe markets open: relief rally stalls, flat start...

April 24, 2025

Long ABT: riding bullish momentum with strong EMA...

December 23, 2024

Will Asian markets sustain their rally as US...

October 10, 2024

Asian stocks close mixed: Hang Seng slips 0.4%,...

April 28, 2025

Here’s why the Bovespa Index and Brazilian real...

December 18, 2024

Shopify shares rise 4% after TD Cowen increases...

October 4, 2025

SoFi stock vs Robinhood Markets: which fintech stock...

July 1, 2025

Citi Wealth CIO says traders ignoring warning signs...

June 28, 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 News

    • Europe bulletin: Manchester synagogue attack aftermath, stocks close higher

      October 5, 2025
    • Evening digest: Trump sets deadline for Hamas, Canada’s slowdown, BTC rebounds

      October 5, 2025
    • Iran executes six people for alleged links to Israel, state media reports

      October 5, 2025
    • US digest: Trump’s Hamas ultimatum, government shutdown stalemate continues

      October 5, 2025
    • Japanese stocks may extend record run as Takaichi win revives ‘Abenomics’

      October 5, 2025

    Categories

    • Business (4,191)
    • Investing (2,958)
    • Latest News (2,080)
    • Politics (1,536)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, 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 americaninvesthub.com | All Rights Reserved