NEW YORK — After more than two years of being outdistanced by Wal-Mart Stores Inc. (WMT), Target Corp. (TGT) said Tuesday it is coming out with guns blazing, planning to prove it is the low-price leader and offers better quality than its larger rival.
Target wants to retool the way many customers view both it and Wal-Mart, Chief Executive Gregg Steinhafel said. “Regardless of the economic environment going forward, we’ll continue to address the gap between the perception and the reality of our pricing.”
Wal-Mart is generally perceived as the low-cost leader. Target will also “maintain our focus on fashion, design and a superior store experience,” Steinhafel said.
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