Target Returns to Growth After Price Cuts, Mortgage Apps Sink
Target has returned to growth after a series of significant price cuts were successful in bringing consumers back to the retailer following 5 quarters of sales declines. It turns out the solution to higher prices was higher prices. Elsewhere US mortgage applications sank significantly last week despite the recent decline in interest rates as demand for mortgages to purchase a home hit the lowest level since February, despite peak home-buying season.
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