Target matches competitors' prices in pilot program
today May 12, 2009
SAN FRANCISCO, May 11 (Reuters) - Target Corp (TGT.N) has launched a pilot program to match competitors' prices on almost all products sold in its discount stores, starting in three areas of the country.
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The discount retailer said the pilot began in March at stores in Orlando, Florida and Denver, and has since expanded to two Minnesota-based stores.
"We've always offered low prices, but we feel like this is a great opportunity, in light of the current economic environment, to provide our guests with peace of mind that that they can get a great deal at Target," said spokeswoman Delia McLinden.
The pilot comes as Target works to revive sales, which have taken a hit as shoppers hold off on buying its trendy clothes or jewelry during the recession. The retailer has been trying to emphasize the "Pay Less" side of its "Expect More. Pay Less." tagline to draw customers into its stores.
The retailer will monitor the program results to decide whether to expand it, McLinden said. (Reporting by Nicole Maestri; Editing by Richard Chang)
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