Target reports rise in sales following price cuts made in early summer to kickstart business

Target's comparable sales rose for the first time in a year as grocery aisle deals for cash-strapped customers began to pay off.Sales at stores and digital channels operating over at least the past 12 months rose 2% in the second quarter reversing months of declines, including a 3.7% drop in the previous quarter, and a 4.4% decline during the company's final quarter of last year.

'Target's retooling of its value position is a sensible response to the current environment, and it should continue to deliver results across the quarters ahead.'To boost sales, Target said this spring that it would slash the price of bread, coffee, diapers and thousands of other everyday items, joining other retailers looking to kickstart business by catering to inflation-weary consumers.

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