Target Corp. (TGT) is living up to the second half of its “Expect more. Pay less.” slogan by winning the latest round in its pricing battle with Wal-Mart Stores Inc. (WMT)
Target this month had lower prices than Wal-Mart for the first time since October, according to research conducted by Bloomberg Industries. The Minneapolis-based chain also led by its widest margin since the monthly study began two years ago. The study examined the gap in average price across a basket of 150 like items at stores within five miles of each other.
The discounters are fighting for U.S. customers who are still dealing with high unemployment and slow wage growth. The chains also are facing more competition from online retailers such as Amazon.com Inc. (AMZN), which offers free shipping and is adding distribution centers to speed up delivery time.
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