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Analyst: as belts tighten, customers choose Wal-Mart over Target

February 21, 2008

Associated Press: Citi Investment Research analyst Deborah L. Weinswig said Wal-Mart's "low-price message" resonates with consumers who are trying to scale back on spending and get the most for their dollar. Weinswig cut her rating on Target Corp. to "sell" from "hold." Weinswig says Target increased prices too much on women's retail and there is uncertainty over how much Target's credit card segment will have in profits. Wal-Mart, the world's largest retailer, has benefited from its grocery business and home electronics offerings, which include flat-screen televisions and computers.

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