The retailer is teaming up with luxury merchant Neiman Marcus to offer a limited collection spanning from fashion to sporting goods. More than 50 products from 24 designers, including Oscar de la Renta and Diane von Furstenberg will be available at both stores and on their websites starting Dec. 1 until they are sold out. Target is also bolstering its home area with names like Nate Berkus, which launched late last month.
Target told investors Thursday that it hasn't offered layaway Wal-Mart because its customers haven't asked for it. Still, the retailer is playing up value.
Target for the first time is matching prices that customers find on identical products at some online competitors this holiday season, including Walmart.com. The price match program, which covers the period from Nov. 1 through Dec. 16, is an attempt to combat the "showrooming" trend in which shoppers use their smartphones while they're in stores to browse for products at cheaper prices.
Target's customers may be a little more resilient than Wal-Mart's to the economy's woes, but Target officials said Thursday that the retailer expects shoppers to remain cautious
"Our research with (customers) indicates they are continuing to shop with discipline, focusing on lists and budgets and occasionally splurging on more discretionary items," said Target's Tesija.