Target Slashes Prices, but It's Profits That Will Be Cut
Target (NYSE: TGT) has few options other than to engage in a broad price-cutting strategy. Long under pressure from Wal-Mart and Amazon.com to remain competitive, the mass-merchandising retailer has often responded with select promotional deals to keep customers coming back.
And though chains such as Kroger, Supervalu, and even Costco felt the heat from deep-discounting grocers Aldi and Lidl as they expanded their U.S. presence, Target was finally forced to make a more decisive move after Amazon bought Whole Foods Market and immediately began cutting prices at the organic-foods grocer.
In a blog post announcing the decision, Target said it's cutting prices on thousands of products, from cereal and baby formula to razors and toilet paper.
Source: Fool.com
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