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Price cuts can be a retailer’s way of going on the offensive against its rivals — but for Target Corp., it’s more of a defensive play, and reflects the struggling company’s need to make a change.
Target
TGT said Tuesday that it is lowering prices on 3,000 food, beverage and other essential household items. The announcement comes about a week before the discount retailer releases third-quarter results, with the company expected to report comparable sales — which are sales of stores open for at least 13 months — that declined from a year prior for the third straight quarter. In comparison, chief rival Walmart Inc.’s WMT comparable sales have increased every quarter for at least five years, based on available FactSet data.
