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Target Plans Aggressive Stance for Holidays

MINNEAPOLIS-In a Q3 conference call to investors, Target Corp. said it plans to respond aggressively to price-cutting during the holiday season.

By Danielle Anderson | Updated on November 14, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

MINNEAPOLIS-Target Corp., which expects an intensely competitive holiday season ahead, told investors in a conference call yesterday that it is poised to respond quickly to price-cutting by competitors. Company officials also announced that Target has expanded its presence across the US with the opening of 59 new stores, and has introduced several new in-store initiatives during the third quarter, which ended Oct. 29.

“Fourth quarter is always a very competitive timeframe, and this year we expect more of the same,” said Gregg Steinhafel, president, “Wal-Mart takes a generally very aggressive stand in small appliances, toys and electronics. We respond aggressively so that we are competitively priced on like items in like markets. As we get deeper into the holiday season, we expect to experience more price-cutting and we will respond as quickly as we possibly can to make sure that our prices are in line.”

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