Target has reported disappointing financial performance over the last two years, with declining sales and foot traffic. The retailer's struggles are evident as it faces increased competition from Walmart and Costco, which have shown robust gains. Analysts point to the state of Target's stores and the overall shopping experience as crucial factors behind its lackluster performance, suggesting that an enjoyable in-store experience is a significant determinant of customer spending. Multiple visits to various locations reveal inconsistent shopping experiences, with some stores thriving while others lag behind.
"The traditional mantra of the Target trip is that you go in for toothpaste and you come out with many, many other things," said Global Data retail analyst Neil Saunders.
In each of the past four months, Target's traffic was down from the year before, while Walmart's was mixed, and Costco notched gains, according to the data.
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