A surplus of inventory is causing Target to slash prices on some bigger-ticket items that consumers have pulled back on purchasing. Who's planning a Target run this weekend? 🛍️
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But many shoppers in recent months have altered their purchasing choices in response to the fastest jump in inflation in decades and the end of federal government pandemic stimulus payments. Target was caught off guard by the speed of these shifting trends and last month told investors it would begin marking down some overstocked items.The steps will dent the retailer’s profit estimates for the year, the company said.
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