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.
It’s almost like they don’t have money
It’s almost like, the economy isn’t doing great by the metrics that matter to the average u.s. resident.
Maybe we should pay CEOs more so that the average worker has more money?
It’s almost like greed inflation isn’t working the way business had hoped.
How dare they not spend the money they don’t have at my store!