Oct 7, 2009
Target cuts top toy prices up to 50%
Oct 7, 2009
NEW YORK, Oct 7 (Reuters) - Target Corp (TGT.N) said is offering up to 50 percent discount on popular toys such as the Barbie Fashion Doll and GI Joe Tough Troopers Figure in an effort to woo shoppers for this holiday season.
The retailer's price cuts, which came into effect on Oct. 1, come at a time when recession-weary U.S. consumers look closely at the price-value equation and seek more value for their dollar.
Last month, Wal-Mart Stores Inc (WMT.N) said it was offering more than 100 toys, including Barbie dolls and board games, for $10 each, throughout the Christmas shopping season.
Even toymakers like Mattel Inc (MAT.O) have been focusing on making fewer and more affordable toys in past months as they try to entice frugal parents and their children back into stores. Some are even coming up with less expensive, modified versions of specific items.
Target's discounted items also include the Fisher-Price Little People Play 'N Go Farm Set 50th Anniversary edition.
"We continually shop the competition so our guests don't have to," Tony Fisher, Target divisional merchandising manager, toys and sporting goods said in a statement.
The wide assortment and the additional discounts will help consumers make the most of their holiday budgets, Fisher added.
Target's stock was up 6 cents at $48.15 on the New York Stock Exchange. (Reporting by Dhanya Skariachan; editing by Gunna Dickson)
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