Target Stock Slips After Company Lowers Prices

Target stock is dropping after the company said it is cutting prices on more items, as retailers respond to consumers’ ongoing focus on value. On Tuesday, Target announced the return of its Target Circle Week in July, a sale that coincides with similar deal days from Amazon.com and Walmart Along with the sale, which will span items from toys to home goods, Target noted that it plans to reduce prices on some 3,500 products throughout the summer, as part of its early pledge to do so. Target already said in May that it would lower prices on 5,000 popular products, 1,500 of which have already been reduced; Walmart made a similar announcement.