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U.S. households are managing their budgets very carefully tightening up their spending—including on groceries, Target chief executive Brian Cornell said in an interview with CNBC’s Becky Quick.
“When you look at overall retail spending—just look at the top line—a really healthy consumer. And they are spending. But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” Cornell said. . Sales dropped by more than 5 percent in the second quarter. Although the company did detail how much of that decline was due to the Pride backlash, it did say it was significant enough to hit earnings.Biden Tries to Appease Swing-state Muslims by Calling for 'Pause' in GazaAlex Marlow: Joe Biden’s A.I.
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