Target cuts prices on thousands of items to boost slipping sales
Target is cutting prices on thousands of food and household items as it works to reverse its sales slump under its new chief executive.
The retail giant specifically will slash the cost of 3,000 items across those categories to help families stretch their budget during the holiday season, Target’s commercial officer, Rick Gomez, said.
Gomez said it’s one key element of its strategy to boost its value proposition during the holiday season. Target more than doubled its holiday assortment this year, adding 20,000 new gifts, but Gomez said its offering thousands of toys priced under $20. In particular, he noted that there will be affordable holiday home décor such as ornaments starting at $1, candles at $5 and throws at $10.
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