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.
Depends on what you’re buying.
That said, walmart is often better at fuckery that makes you think they’re cheaper. For example, they’ll mark down key staples like milk, eggs, and peanut butter by several cents or more. But other things in the store will actually be more expensive than what Target sells.
Been inside both companies, so I’ve seen the tricks