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.
The parts where runaway inflation has been staved off.
And the parts where employment rates are at the best it’s been since 2019.
The economy is in a good place, but a good economy doesn’t have everything to do with wages. There’s too much greed from people who don’t want to pay fair wages.
Which has nothing to do with Biden, but I wanted to point out the good things he’s done.