On September 29, Target Corporation (NYSE:TGT) reported that it is cutting prices on nearly 2,000 home items, apparel, and accessories. This update comes as the company aims to attract cost-conscious shoppers ahead of the holiday season. US consumers are facing a more cautious spending environment, with higher gas prices adding pressure to household budgets amid the ongoing Middle East conflict. Target Corporation (NYSE:TGT) is not alone in this. Walmart also delivered its slowest quarterly comparable sales growth in August and said it will lower prices on approximately 11,000 products. This points to a more promotional retail environment as retailers compete for increasingly price-sensitive consumers.
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