Major retail behemoths, like Target and Walmart, have been issuing price cuts for droves of items throughout the summer to stimulate sales. Here's how they are doing.
The retail industry has issued plenty of deals in recent months to pull in consumers and stimulate sales. It's working. Two of the biggest retailers, Target and Walmart, have recently reported a jump in traffic due to the reduction in prices in recent months. On Wednesday, Target CEO Brian Cornell told analysts during an earnings call, the company reduced prices on about 5,000 frequently purchased items in many markets during the summer.
Doug McMillon hinted the company will keep reducing prices on certain goods, saying it will "continue working to get more rollbacks to help customers and help members save money." Economists say the midsummer boost in retail sales figures was helped in part by the deals offered by retailers.
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