Target plans price cuts despite lower 3Q earnings



RealClearMarkets - AP - Markets - Nov 17, 2008 - Target plans price cuts despite lower 3Q earnings



During the holidays, Target will remain "keenly focused" on offering low prices on national brands and its own products and will match Wal-Mart prices on identical items in local markets, said Kathryn Tesija, Target's executive vice president of merchandise.

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."