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.

  • @Phantom_Engineer
    link
    21 year ago

    Selection is bad, price is meh. If you have the red card for the extra 5% it helps balance things out some. I go because it’s convenient where I live, but I wouldn’t go out of my way to buy groceries there.