Sept 5 Target Corp is planning
conservatively for the upcoming holiday season and could forego
some sales if industry discounting gets too deep, the retailer's
chief financial officer said on Wed nesday.
"We aren't interested in driving sales at all costs," CFO
John Mulligan said in answer to a question at a Goldman Sachs
Price cuts by Wal-Mart Stores Inc and other
retailers put pressure on retailers during the 2011 holiday
season. Continued high unemployment and uncertainty surrounding
the U.S. presidential election has retailers cautious ahead of
the 2012 holiday.
Mulligan said Target will offer value in categories that are
important to its core customers, those who will keep shopping at
its stores after the holidays.
But the retailer is also hoping that product initiatives
like designer collections it has teamed up to sell with luxury
chain Neiman Marcus Group Inc will help attract
Earlier on Wednesday, Walmart U.S. Chief Executive Bill
Simon said the retailer was optimistic about its prospects for
the holiday season, though he noted it will be "challenging"
because "the retail environment is getting very aggressive."