Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets.
In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units.
“But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.
I live in a country where wages are linked to a central index.
The index measures how expensive life is becoming. If the prices of products and services rise, the index rises accordingly. If the figure exceeds the so-called central index, benefits and wages will automatically increase.
So, this happened in October again and next month I’ll have an increase of 2% in wages.
It’s more complicated than that, but most countries should use this to protect at the very least handicapped, sick or unemployed people who live on benefits.
It’s not much, but it helps in a way.