Looks like it's time for another Target run. The Minnesota company announced Friday it's dropping the prices on thousands of items.
It's not just a short sale, either. In fact, it's kind of to replace temporary promotions.
Instead of having “As Advertised!” and “Temporary Price Cut” deals – which the company says can be confusing – it's simplifying things and making a lot of stuff cheaper.
“We want our guests to feel a sense of satisfaction every time they shop at Target,” says Mark Tritton, Target executive vice president and chief merchandising officer. “Part of that is removing the guesswork to ensure they feel confident they’re getting a great, low price every day."
The news release goes on to explain that company leaders spent a lot of time studying Target's prices and promotions. From there, they decided to lower prices on thousands of items, like cereal, paper towels, baby formula, razors, bath tissue and more.
Target assures its customers it's not completely ditching its sales and promotions. But getting rid of two-thirds of its price and offer call-outs will make it easier to spot the best sales.
This decision comes not long after Amazon started slashing prices at Whole Foods.
CNBC notes that Target's shares dropped about 3 percent Friday afternoon following the announcement.