It was the fourth-straight quarter of sales declines at Target (TGT). Sales dropped primarily in discretionary categories last quarter, Target said, continuing a trend during the inflation spike in which customers spend on necessary items but pare back on stuff they don’t really need. More than half of Target’s merchandise is discretionary. Target is trying to lure back shoppers by cutting prices on some key items and adding its own brands. The company also recently created a new house brand called Dealworthy to take on dollar stores and Walmart.

Source: CNN May 22, 2024 12:14 UTC