(Reuters) -Target on Wednesday reported a bigger-than-expected drop in quarterly comparable sales as cash-strapped U.S. consumers pulled back discretionary spending on apparel and home decor.
A prolonged U.S. government shutdown that delayed federal pay and food-stamp benefits, as well as still-high inflation and tariff worries has prompted consumers to hunt for cheaper groceries, and curtail non-essential spending.
Total comparable sales – from online channels and stores open for at least 13 months – fell 2.7% in the third quarter, compared with estimates of a 2.08% drop, according to data compiled by LSEG. The company’s shares were down nearly 2% in volatile premarket trading.
Sales in the household essentials category fell 3.7%, while digital comparable sales rose 2.4%. Digital sales

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