Rick Gomez, Target’s chief commercial officer, echoed this sentiment, highlighting “financial pressure” forcing consumers to make trade-offs that prioritize essentials.
Consumers are still leaning into special events and holidays, he said, pointing to higher sales around Easter.
For that reason, Gomez and other executives said, Target will lean into the Nintendo Switch 2 release and back-to-school as key focal points for the summer months.
“Even in a quarter where we know we’ve got some work to do, we see some data points that’ll matter in the long run,” said Michael Fiddelke, chief operating officer for Target. “The strength of our same-day delivery business and Circle 360 growth, we think bodes really well for the stickiness and relevancy that will drive with those consumers over time.”
Last week, Target revealed the rollout of 10,000 new items for summer, with many starting at $1 and most under $20. In the call with media, executives also said it will keep the front-of-store bargain area called Bullseye’s Playground with $1, $3 and $5 items, adding mini beauty and food and beverage items to diversify the mix.
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