More retailers today reported checkout receipts from their latest quarter that underscored the limits of lower prices.
Target, which in May started dropping prices on over 5,000 products, saw 3% more transactions in stores and online last quarter vs. a year ago, but average transaction amounts (💵) dipped 0.9%.
Macy's, which expanded promotions across its Macy's, Bloomingdale's and Blue Mercury stores, saw its net sales decline 3.8%.
TJX, the parent of discount chains Marshalls, HomeGoods and TJ Maxx, lowered its full-year earnings guidance as home goods sales growth slowed from last year.
Between the lines: You can show consumers a deal, but you can't make them buy.
What we're watching: Nordstrom, Best Buy, Dollar General, Gap, Lululemon and Ulta are set to issue earnings next week.
