Target Corp’s new food label Good & Gather will be a traffic driver that helps the retailer take a bigger chunk of the food business, experts say.
Target’s TGT, +2.81% Good & Gather will be available Sept. 15 and be comprised of more than 2,000 products by the end of 2020. Other Target brands Archer Farms and Simply Balanced will be phased out, while the amount of items in the Market Pantry brand will shrink.By the end of 2019, Target will have more than 25 owned brands, spanning across fashion, home goods and more.
“By category, Target emerged the new leader in center-of-store grocery items [such as snacks and packaged food] is at a 3% discount to Walmart,” analysts wrote in an August note. Bank of America conducted a pricing study in the Atlanta metro area in July. Target is scheduled to report second-quarter earnings on Thursday, with shares up 22% over the past three months and up nearly 31% for the year to date.Don’t miss: Macy’s results indicate that the retail environment is worse than we thought, analysts say
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