5/18/09

LOW-PRICE WAR - CHASING WAL-MART

Associated Press May 27, 2009

Target Corp. is going bananas to keep up with Wal-Mart Stores Inc.

The discounter, known for stylish towels and jeans, has long sold groceries. But it is barely holding onto its customers while its chief rival, Wal-Mart, is rapidly picking up new shoppers as its powerful low-cost message resonates in the recession. So Minneapolis-based Target, about one-sixth the size of Wal-Mart, plans to stock more fresh food — including bananas — and play up its low prices.

Tim Jasinski, 51 — who was filling his basket with pasta, red wine, cream sauce and a can of mushrooms at a Wal-Mart store in Waukesha, Wis., last weekend — says he rarely goes to Target anymore. "Sure, they have some better things," Jasinski said of Target. "But money is more important."


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