Wal-Mart and Target: A tale of 2 discounters
By ANNE D'INNOCENZIO
AP Retail Writer
NEW YORK (AP) - This holiday season, the biggest discount chains in the U.S. will tell the tale of 2 very different shoppers: those that have and those that have not.
Wal-Mart Stores Inc., the world's largest retailer, on Thursday acknowledged that its low-income shoppers continue to struggle in the economy and issued an outlook for the fourth quarter - which encompasses the holiday shopping period-that falls below Wall Street estimates. On the same day, its smaller rival Target Corp., which caters to a more affluent shopper, said it expects results during the quarter to exceed the Street's projections.Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.