Retailers have seen much of their late-pandemic rebound undone by changing consumer priorities, as households grapple with rising prices of essential items. That is undermining apparel sales especially, leaving many retailers with a glut of merchandise that is necessitating markdowns and in turn squeezing margins.
Telsey Advisory Group analysts actually see upsides to the promotions underway at Target as back-to-school shopping begins. ”Target should be able to leverage its members’ loyalty and merchandising expertise, such as fashion-oriented private brands in apparel and home/decor to boost sales,” Dana Telsey and Joseph Feldman said in emailed comments Monday. “Furthermore, elevated inventory levels and related promotional activities should help attract customers.”
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