Despite its cult following, Target stores are feeling inflation pains just like the rest of us.
The retail giant says its second-quarter profits were down 90% as consumers cut back on nonessential spending.
Recently, Target tried to lure in customers by slashing prices on overstock inventory, but it didn't appear to work...the company is still sitting on 36% more inventory than it had a year ago.
Comparatively, Walmart reported that its sales have risen due to shoppers flooding in to save money on groceries.