Target looks to food to improve its profit margin
Downtimes are uptimes for discount retailers, right? That may be true for Wal-Mart -- relatively speaking at least -- but Target is having a rough go, and at least part of that struggle interestingly has to do food.
According to Time, the recession has sucked customers away from Target in favor of Wal-Mart's cheap, one-stop-shop offerings, which more often than not include a greater selection of food.
"Things are so bad, even cheap clothes are a luxury now," the article says. "Isaac Mizrahi is nice," but now shoppers want to see meat and potatoes."
In response, it says, the Minneapolis-based retail giant is expanding its perishable food selections and eliminating some middle men by opening and operating its own distribution centers, including one set to open later this year in Cedar Falls, Iowa.
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