Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inflation cuts into household budgets and more Americans pay closer attention to their spending. The price cuts, already applied to 1,500 items, will eventually include 5,000 food, drink and essential household goods. Target and other retailers are increasingly catering to customers who are struggling with higher prices for groceries, though inflation has begun to cool. Many of them have switched to private label brands sold by Target and others big retailers, which are typically less expensive than well-known brands. Target launched one such collection in January called Dealworthy which includes nearly 400 basic items, ranging from clothing to electronics, that can cost less than $1, with most items under $10. Last week, McDonald’s said that it was planning to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customer frustration with higher prices. Walmart posted strong quarterly sales last week driven by a influx of customers, including households with incomes of more than $100,000, looking for bargains. |
Braves ace Spencer Strider begins recovery from elbow surgery, says team can win World SeriesFederal officials are investigating a Rockies coach's cockpit visit during a United flightPSG loanee Ekitiké scores winner as Eintracht Frankfurt beats AugsburgJohn Tortorella says he failed to get Flyers to 'close the deal' in wake of lateHow Taylor Swift's British ex Joe Alwyn kept dignified silence during sixThai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violationsPriest resigns from Michigan church after protests over his criticism of a gay authorG7 comes for Putin, Ayatollah and Xi: Ukraine to receive frozen Russian assets to fund 'gameKnicks and 76ers got past injuries that could've ruined them. Now they meet in playoffsMan who won primary election while charged with murder convicted on lesser charge