If bargains are your thing, this is for you.
Heads up y’all – looks like Christmas is coming early this year, so have those wallets ready!
For the past year and a half, retailers have struggled to keep items stocked in their stores.
It was only a matter of time before retailers had too much on their store shelves and in their warehouses due to orders being placed and being stuck in ports.
Well, the time has come my friends, Target has officially announced they are cancelling vendor orders and are being forced to liquidate inventory because they have too much stuff!
Target announced on Tuesday that they are canceling orders from suppliers, particularly for home goods and clothing, and it’s slashing prices further to clear out amassed inventory.
They are doing this now ahead of the critical fall and holiday shopping seasons.
Basically, they want to clear out unwanted inventory in some categories to make room for inventory that is wanted such as groceries, makeup products and even seasonal items.
“Retail inventories are elevated,” Michael Fiddelke, Target’s chief financial officer, told The Associated Press in a phone interview Monday. ”And they certainly are for us, in some of the categories that we misforecast. We determined that acting aggressively was the right way to continue to fuel the business.”
Looks like the delay on receiving items is going to work in our favor.
So, when can you expect to see some massive discounts online and in-store? Nobody for sure knows when.
However, it’s a good idea to keep checking your local Target’s and even Target online because I can’t imagine they’d wait too long to begin dropping prices.