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.
Which is why I heavily invested in Costco when food prices went up. If suddenly it matters people are going to be willing to endure Costco.
Costco and Aldi
Gotta live with what they offer though, as the selection is not as large as a typical grocery store
But Aldi’s quality has gone way, way up and their prices have stayed low. They’re basically bag-it-yourself Trader Joe’s now.
Aren’t they the same company? Or is this that Nord-Sud thing?
They’re the same company in the U.S.