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.
No doubt. I’m starting to eat healthier because a bag of Doritos is like $5 now when I used to buy it for $2.50-3.00. That’s just one example, but across my snacking ‘units’, everything is outrageous.
I’m eating less and healthier ‘units’.
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Where I am, cooking oil is now $14.99 for a 3 liter jug and never goes on sale anymore. It used to be $5.99, and would frequently go on sale for $2.99. I haven’t deep-fried anything in months. This isn’t the way I expected to start eating healthier…
The American dream is dead. When good people can’t even afford their first cardiac arrest from eating carnival food like fried butter we know lady liberty is sheding tears of regret.
Even $1.29 is robbery for fucking carbonated sugar water. Come to Canada. They are $3.49 now 🫠
It’s $3.11 canadian dollars from department and grocery stores where I live. Pepsi hasn’t gone up as much, which includes Rockstar energy drinks, which are now cheaper than Coke somehow. On the Walmart website, they show 52 cents per 100ml of rockstar vs 53 cents for Coke.
A lot of stuff I used to consider splurge items at Trader Joe’s are now the same price or cheaper than regular brands, it’s ridiculous.