Target lowered its profit forecast for the year, citing a concerning trend: consumers are spending less. The retail giant known for its bullseye logo and aisles overflowing with everything from groceries to apparel, sent a tremor through the retail industry with its recent earnings report. The biggest retailers in the country has revealed the challenging economic situation that millions of American households are currently facing. It’s not just a problem specific to Target but a warning sign for the wider U.S. economy. Today, we will examine the issues facing the retail business and its effects on consumers and the economy.
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