Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets.

In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units.

“But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.

  • @insomniac
    link
    17 months ago

    Jesus, where I live eggs are back down to $1.99 a dozen which is more than they used to be but not that extreme. I think pre-pandemic, we were paying $1.79. There was a period where the store brand was $5.99 and Egg Lands Best was $3.99 which made no sense to me.