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As the US enters its fifth year of inflation running above the Federal Reserve’s target of 2%, major retailers are responding to softer demand and increased competitive pressure.
With consumer sentiment in 2026 divided and the cost of living a constant concern for Americans, Target announced Wednesday that it will cut prices on more than 3,000 items.
“Busy families are thinking about value as they begin organizing their homes and wardrobes for spring,” said Cara Sylvester, Target’s vice president and chief merchandising officer, in a press release.
“We’re bringing you discounted prices on over 3,000 spring favorites across apparel, essentials and home,” he continued. “We’re committed to making it easier than ever for guests to find the new style and amazing value they love, at low prices on the things we know they want.”
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Discounted categories include women’s and children’s clothing, footwear such as flats, sandals and sneakers, sleepwear and pajamas, baby products, household essentials and play essentials.
Shoppers at a Target store in Jersey City, New Jersey, on Nov. 25, 2025. (Getty Images)
Many discounts range from 5% to 20% off the actual discount and will begin rolling out to stores this month through spring.
However, the discount program does not include stores in Alaska and Hawaii.
Inflation remained above the Federal Reserve’s target of 2% in February as policymakers continued to weigh affordability concerns. The Bureau of Labor Statistics said Wednesday that the consumer price index (CPI) — a broad measure of the cost of goods and services, including gasoline, groceries and rent — rose 0.3% in February and was up 2.4% from a year earlier. The annual rate was unchanged from January, and the monthly gain was slightly higher than January’s increase of 0.2%.
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The price cuts appear to be part of a wider strategy aimed at restoring sales growth. Target’s CEO, Michael Fiddelke, outlined the company’s plan to return to growth during a financial community meeting last week, citing investments in key areas such as women’s clothing, home and baby.
“This new chapter of growth at Target is defined by clear decisions and based on a deep understanding of our unique retail approach, the guests we serve and the areas where we are clearly positioned to win,” said Fiddelke.
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“This work continues, and by putting style, design and value at the center of every decision,” he continued, “we are making big changes to lead with forward-thinking assortment, elevate guest experience, accelerate technology and equip our teams to deliver the most exciting retail experience, today and long-term.”
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Eric Revell of FOX Business contributed to this report.
