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Target Is Cutting Prices On Most Items To Get Rid Of Inventory

Target's Stock Drops On Poor Earnings

Photo: Getty Images

Your favorite items are going to be cheaper.

Target is cutting prices in their stores to get rid of excess inventory. 

Target announced Tuesday that the company would have to get rid of excess inventory, and to do so, they'll lower prices.

In a released statement, the company said, "The Company is planning several actions in the second quarter, including additional markdowns, removing excess inventory and canceling orders. The action plan also includes the addition of incremental holding capacity near U.S. ports to add flexibility and speed in the portions of the supply chain most affected by external volatility; pricing actions to address the impact of unusually high transportation and fuel costs; and working with suppliers to shorten distances and lead times in the supply chain."

Full statement here.

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