526
submitted 1 year ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

(page 2) 50 comments
sorted by: hot top controversial new old

surprisedpikachu.jpg

I assume this is the same CEO that folded like a wet noodle as soon as the bigots started complaining about having Pride merchandise in the store last summer.

load more comments (2 replies)
[-] krolden@lemmy.ml 20 points 1 year ago

The only time I buy groceries at target is when I go there for something else and find a bag of chips they dont sell at the grocery store.

[-] dan1101@lemm.ee 19 points 1 year ago* (last edited 1 year ago)

When almost everything is more expensive (and often smaller portions) people can't buy as much.

Not just groceries either; rent, vehicles, property taxes, insurance, fuel, everything.

[-] Treczoks@lemmy.world 17 points 1 year ago

Are they pulling back in general, or are they "just" pulling back from Target?

load more comments (3 replies)
[-] escaped_cruzader@lemmy.world 15 points 1 year ago

Has America finally found the cure to obesity? Low wages and inflation!

[-] ODD@lemmy.eco.br 8 points 1 year ago

No, that's what made them obese in first place. Now it's the hunger formula.

load more comments (3 replies)
[-] some_guy 15 points 1 year ago

Media: Recession didn't happen or it's over.

Media: Might be recession.

load more comments (4 replies)
[-] FlyingSquid@lemmy.world 14 points 1 year ago

True. No one here is buying their groceries at Target.

Maybe one day this town will get a Target and I can continue not buying groceries from it.

Meanwhile, the Krogers and Walmarts seem to have plenty of people in them.

load more comments (7 replies)
[-] ComradeWeebelo@lemm.ee 13 points 1 year ago* (last edited 1 year ago)

I always figured their grocery section would end up like their in-store pharmacy,, i e., no one would use it and it would end up a vestige of a failed business model.

It surprises me when I see people buy food from target since there are other stores with the same or similar quality items for cheaper. I don't think target has much value proposition from their own brands like Archer Farms (if that even is a target exclusive brand anymore).

If anyone sees this comment and shops at target for their groceries, would you mind explaining why?

[-] Birdie@thelemmy.club 10 points 1 year ago

I occasionally pick up food items from Target. It's less than a mile away, and if I am out of almond milk, I'll get it there rather than travel a longer distance. Sometimes I pick up a bottle of wine.

I've never done a full grocery shopping, however.

load more comments (1 replies)
[-] Dark_Arc@social.packetloss.gg 12 points 1 year ago

Maybe if they'd stop replacing all the name brand stuff with Target knockoffs that aren't as good, I'd actually do more shopping there. And you know, maybe if they didn't make everything a crummy, awkward, self checkout...

I'm spending plenty of money, just most of it is not going towards Target.

[-] afraid_of_zombies@lemmy.world 10 points 1 year ago

Somehow their checkout line has got the worst parts of Walmart and a Supermarket in one and I can't figure out exactly how they did that.

load more comments (1 replies)
[-] Desistance@lemmy.world 10 points 1 year ago

Shit costs too much

[-] oakey66@lemmy.world 9 points 1 year ago

I guess maybe school loans should have gotten cancelled.

[-] pissclumps@lemmy.world 9 points 1 year ago

Target is overpriced and so are their groceries

[-] ramenshaman@lemmy.world 6 points 1 year ago

I fucking love Target. I've been shopping less there because my girlfriend moved in and I'm drinking a lot less and eating out more.

load more comments (1 replies)
load more comments
view more: ‹ prev next ›
this post was submitted on 03 Nov 2023
526 points (98.3% liked)

News

23618 readers
3292 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS