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. |
Earthquake death toll in Qinghai rises to 18China to strengthen management of drunk driving casesMultiple places in C.China’s Henan suspend classes, transportation due to continuous snowfallWest Ham's European hopes hit again with 2Guideline unveiled to make public use of autonomous driving vehicles saferMilan draws at Sassuolo to leave Inter likely to clinch Serie A title in next round's derbyChina records its first use of terrestrial cable for power transmission between islandsPrince Andrew breaks cover as he goes for a horse ride in WindsorAll to play for in Champions League quarterfinals as Mbappe looks to rekindle form for PSGChina's anti