Target is eliminating excess inventory by offering a rare discount on clearance merchandise.
Why is this important: The retailer warned earlier this month that its overstock issue would eat into its profits this quarter, Axios’ Hope King reported. As part of its plan to “adjust” your inventoryTarget said it would take additional markdowns, remove excess inventory and cancel orders.
The big picture: Through June 25, shoppers can save an additional 20% on select clearance products with an offer on its app through the Target Circle loyalty program.
- Axios spotted nine clearance deals on Target Circle, including women’s, men’s and kids’ apparel, footwear, sleepwear, swimwear and accessories.
- The discount is available in stores and online, but prices may vary by location. Many target markdowns are between 30% and 70%.
- Target has also slashed prices on patio furniture, kitchen equipment and other household items — the very items that for most of the past two years have been in short supply, notes Neil Irwin of Axios.
Target Deal Days return to compete with Prime Day
Target Deal Days are back for the fourth year and runs July 11-13, overlapping with Amazon’s Prime Day sale, Target announced this week.
- target sale is one day longer than Prime Day and offers savings on “hundreds of thousands of items across all categories,” the company said.
- There’s also a new daily Target Deal of the Day online and the retailer’s app.
Target military discount begins before July 4
Meanwhile, Target is offering a military appreciation discount for active duty military, veterans and military family members outside of its annual Veterans Day savings. The National Guard and reservists are also included.
Details: Verified military members will receive a 10% discount on up to two separate transactions, online or in-store, from June 26 through July 4.
- To get the discount, log in to target circle and confirm your military status with a document, such as a veteran’s ID card. You can start the process now.