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Target layoffs could show sign in changing retail landscape
Target is set to notify 1,000 corporate employees of layoffs on Tuesday, while Amazon is also reducing its workforce. Axios reporter Nick Halter discusses how these layoffs might signal shifts in the retail industry.
MINNEAPOLIS (FOX 9) - Target is lowering the prices of food, essentials and household goods, the corporation announced Tuesday.
Target lowering prices
What we know:
In the announcement, Target says it is lowering the prices on 3,000 types of food, beverages and essential items.
Target is also selling a Thanksgiving meal, which it says will cost less than $5 per person.
The Minneapolis-based corporation does say that prices and availability of the lower-costing items may vary by location and at its website Target.com.
The price reduction is starting this month and will go through "the holiday season."
Donation to Feeding America
What they're saying:
Target says it also donated $500,000 to Feeding America, a national hunger relief donation.
"Target is proud to build on our longstanding partnership with Feeding America to help provide families access to nutritious food and essential resources," said Kiera Fernandez, executive vice president and chief community and stakeholder engagement officer, Target. "This donation reflects our deep commitment to supporting the 2,000 communities we serve. In times of increased need, we remain focused on showing up with care and consistency for families across the country."
What we know:
Target did not say what exact products would be discounted.
Target did say the reduced prices would go through the holiday season but did not give an exact date they would end.
The Source: A press release from Target.