Reported 6 months ago
Target (TGT) reported disappointing first-quarter earnings as their sales dropped, with Walmart (WMT) showing strength in contrast. Target's struggles are attributed to higher price points and smaller grocery departments, leading budget-conscious shoppers to opt for Walmart where their money goes further. In response to declining sales, Target announced price cuts on thousands of products, aiming to attract more customers and regain market share. Despite challenges, industry experts believe Target, known for its brand equity, has the potential to recover over time.
Source: YAHOO