Activity picked up again this month, he said, as shoppers turned out for special promotions.
Two-thirds of toys in its stores will be priced at less than $25, the company said.
Target expects sales to continue falling in the final months of the year, subject to a “wide range” that reflects the uncertainty about holiday spending.
The U.S. Commerce Department reported that retail sales nationwide nudged down 0.1 percent in October from the previous month, the first drop since March.
The decline, which is not adjusted for inflation, was driven by weakness in big-ticket categories like furniture and cars, which may be weighed down by the higher interest rates consumers face when buying on credit.
Persons:
“, ” Mr, Rainey, Brian C
Organizations:
Target, Cornell, U.S . Commerce Department