Target, Walmart, and McDonald's Slash Prices to Tackle Soaring Inflation

Target, Walmart, and McDonald's are all cutting prices and offering more deals to attract budget-conscious consumers amid sustained high inflation. Target reported weak first-quarter results, leading the retailer to cut prices on thousands of household staple items. Walmart has increased its "rollbacks" by 45% in April and is introducing a new premium grocery brand with most items under $5. McDonald's is debuting a limited-time $5 value meal in late June as some consumers are balking at the prices of fast food. Target and Walmart are competing aggressively for shoppers, with Walmart reporting higher transactions and e-commerce growth, potentially gaining share from higher-income households.