Reported about 2 months ago
Target and Macy's both revealed disappointing second-quarter earnings, with Macy's reporting a 3.8% drop in net sales. Retail expert Jerry Storch noted that consumers are feeling financially strained, running out of pandemic savings and facing inflation, leading them to seek better value from retailers. While Walmart posted strong sales growth by emphasizing low prices, Target's attempts to recover have not matched up, highlighting an ongoing trend of consumers prioritizing value.
Source: YAHOO