Target Will Cut Prices to Clear Out Unwanted Inventory, Taking a Profit Hit The move shows how inflation and changing consumer behavior are souring the business outlook for many retailers.
Stocks tumble as poor results from Target return Wall Street to worry mode. Target reported that inflation was taking a toll on its profitability. The report came a day after Walmart warned of the same problem.
White House, Under Pressure, Says It Will Address Baby Formula Shortage Senior officials announced minor steps the administration would take to try to increase the supply of formula, even as they conceded that Americans might not see quick relief.