this post was submitted on 03 Nov 2023
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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.

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[–] alienanimals 21 points 10 months ago (2 children)

Fuck Brian Cornell. He's overpaid and does a shit job.

[–] Ghostalmedia 6 points 10 months ago (5 children)

He’s definitely made some very questionable business decisions. I’ve been watching some of his moves from the inside, and some of the recent leadership appointments have been real head scratchers.

He’s been cutting things that he should be investing in, and putting a lot of people in charge of things that they really don’t have any experience or instinct in. I’m not going to name names, but let’s just say that there is a reason why Walmart has started to turn the corner post-pandemic, and Target is still struggling. Especially with grocery and tech.

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[–] [email protected] 20 points 10 months ago

The only time I buy groceries at target is when I go there for something else and find a bag of chips they dont sell at the grocery store.

[–] [email protected] 19 points 10 months ago* (last edited 10 months ago)

When almost everything is more expensive (and often smaller portions) people can't buy as much.

Not just groceries either; rent, vehicles, property taxes, insurance, fuel, everything.

[–] Treczoks 17 points 10 months ago (3 children)

Are they pulling back in general, or are they "just" pulling back from Target?

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[–] escaped_cruzader 15 points 10 months ago (4 children)

Has America finally found the cure to obesity? Low wages and inflation!

[–] [email protected] 8 points 10 months ago

No, that's what made them obese in first place. Now it's the hunger formula.

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[–] [email protected] 15 points 10 months ago (4 children)

Media: Recession didn't happen or it's over.

Media: Might be recession.

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[–] FlyingSquid 14 points 10 months ago (7 children)

True. No one here is buying their groceries at Target.

Maybe one day this town will get a Target and I can continue not buying groceries from it.

Meanwhile, the Krogers and Walmarts seem to have plenty of people in them.

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[–] [email protected] 13 points 10 months ago* (last edited 10 months ago) (2 children)

I always figured their grocery section would end up like their in-store pharmacy,, i e., no one would use it and it would end up a vestige of a failed business model.

It surprises me when I see people buy food from target since there are other stores with the same or similar quality items for cheaper. I don't think target has much value proposition from their own brands like Archer Farms (if that even is a target exclusive brand anymore).

If anyone sees this comment and shops at target for their groceries, would you mind explaining why?

[–] [email protected] 10 points 10 months ago

I occasionally pick up food items from Target. It's less than a mile away, and if I am out of almond milk, I'll get it there rather than travel a longer distance. Sometimes I pick up a bottle of wine.

I've never done a full grocery shopping, however.

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[–] [email protected] 12 points 10 months ago (2 children)

Maybe if they'd stop replacing all the name brand stuff with Target knockoffs that aren't as good, I'd actually do more shopping there. And you know, maybe if they didn't make everything a crummy, awkward, self checkout...

I'm spending plenty of money, just most of it is not going towards Target.

[–] afraid_of_zombies 10 points 10 months ago

Somehow their checkout line has got the worst parts of Walmart and a Supermarket in one and I can't figure out exactly how they did that.

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[–] Desistance 10 points 10 months ago

Shit costs too much

[–] oakey66 9 points 10 months ago

I guess maybe school loans should have gotten cancelled.

[–] pissclumps 9 points 10 months ago

Target is overpriced and so are their groceries

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