Walmart is winning the big box retail war it seems. They reported same-store October sales were up 2.4 percent versus October 2007. Target, however, lagged behind, with same store sales dropping 4.8%.
“Sales for the month of October were very disappointing, with continued volatility in daily results,” said Gregg Steinhafel, president and CEO of Target Corp. “We expect the recent challenging sales environment to continue into the holiday season and beyond as a result of the economic factors currently affecting consumer spending.”
Walmart is apparently benefiting from a new found frugality among American shoppers.
Are you abandoning Target for Walmart? Or just spending less at Target? What’s up?