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Target says it will end its policy of price matching with Amazon and Walmart, beginning on Tuesday. From now on, it will only match prices from other Target stores and Target.com. Customers and outside observers have lambasted Target for killing a perk that many people seem to appreciate.
Target is ending its price match guarantee, further eroding customer trust and pushing shoppers to Amazon and Walmart that have the competitive edge in prices.
Target remains overvalued at 13.39x forward earnings despite a 25% discount to its 5-year average. Check out why I reiterate my strong sell rating on TGT stock.
Shoppers will no longer be able to buy an item for a lower price if they can prove that they found an identical product listed for less by Amazon or Walmart.
Target is ending price matching of products sold for less at its competitors' stores and websites. For 12 years, Target customers who found a product that was sold for less on Amazon or Walmart's websites could request to buy the same product that was sold at a Target store at the lower price.
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Under its new Price Match Guarantee policy, taking effect July 28, customers of the Minneapolis-based retail giant will be able to price match other Target products in the store or online within 14-days of a purchase, but the policy will no longer apply to its rivals.
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For the full year, SoFi now expects to generate adjusted net revenue of about $3.375 billion, Guilfoyle said, up from its prior guidance of $3.235 billion to $3.31 billion "and well above the $3.29 billion that Wall Street had in mind."