Target's stock slides as consumers remain unconvinced of its value

Star Tribune

After a full year of sales declines, it’s clear American consumers are making Target prove its value as they continue to stretch their dollars and shop around in the face of higher interest rates and prices.

“I think people go to Target for some other things and pick up groceries. It’s not always their main shop,” said Joe Feldman, senior managing director and the assistant director of research at Telsey Advisory Group. Walmart sets the tone for prices and other retailers just end up having to follow, Feldman said.

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