Target CEO touts cautious outlook ahead of the holiday season ...Middle East

Target CEO Brian Cornell was on CNBC today and offered up a cautious outlook for Q4.He warned that sales of discretionary items have been falling for a number of quarters and that the trend may be worsening.“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.Retailers have been struggling to manage inventories throughout the pandemic. They were initially caught with too little during the goods buying spree during the pandemic but last year had too much. “We’ve taken a much more conservative approach in planning inventory this year,” Cornell said.The broader market is likely to cheer

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Last updated : 02 Nov 2023 clock 04:44 PM

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Target CEO touts cautious outlook ahead of the holiday season ...Middle East

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