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.
People have less money so they will spend less. Nothing different than that.
I love banks, they watched housing prices go up by a factor of ten and did not one goddamned thing, then bread goes up by 50 cents… CRANK THE RATES NAOW!!!
Sorry how does taking all of peoples money away from them help the economy exactly? Great now I cant buy anything, and I cant even pay my bills. Great work Banks!!