Target to cut prices, update stores amid ‘seismic shift’ in retail industry

Target announced plans Tuesday to cut prices while hanging on to aspects of the “Tar-zhay” image that’s endeared it to customers. The retailer has made good progress rolling out new brands, tailoring stores to local markets and improving Target’s ability to cater to customers shopping both online and in stores, but it’s clear from their results that wasn’t enough, CEO Brian Cornell said.

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