NEW YORK – Target Corp. said Monday it will aggressively cut prices to give consumers bargains during the holiday season, after weak sales of its apparel and home offerings led third-quarter earnings to fall 24 percent.
"The increasing financial challenges and economic uncertainties facing American households continued to pressure our performance during the third quarter," Chief Executive Gregg Steinhafel said during a conference call with analysts.
The company will also offer half a dozen "value items" online every day at special prices.
"We have taken a very aggressive point of view this year in terms of our promotional pricing, so we expect to be price leaders on selected items in our circular," Steinhafel said. "This is not unlike what we've done in the past. But given the current environment and recognizing how challenging it is, we will be even sharper than we have in prior years."
No need to even ask me where I got your gift from... THAT is if you even get one!!
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