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Story summary
- Target cuts prices on 3,000 food and household items under CEO Michael Fiddelke to curb declining sales.
- The move targets the holiday season, with toys under $20 and décor from $1.
- Despite expanding the holiday assortment, Target reports a 2.7% decline in store sales and a 1.5% drop in revenue.
- To ease profit pressures, Target cuts 1,000 positions and will invest $5 billion in 2026 for remodeling and technology.
