Target slashes prices on thousands of items, shares falter

(Reuters) - Target Corp (TGT.N) said on Friday that it lowered prices on thousands of items, from cereal to baby formula, further hurting retail stocks already pressured by Kroger Co’s (KR.N) disappointing quarterly results spurred by price cuts.

Target, which vowed earlier in the year to aggressively clamp down on prices to compete with rivals Wal-Mart Stores Inc (WMT.N) and Amazon.com (AMZN.O), said it had spent months reassessing the prices of everyday items such as milk, eggs, razors and bath tissue.

The retailer, which said it would continue to offer discounts on some products in addition to the price-cuts, added that it had also eliminated more than two-thirds of its price and offer call-outs...

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RSK: Looks like Amazon is putting the pressure on quite a few retailers...it has made them change their model.

Ken Notes: Why compete with Amazon, copy models that work like Trader Joe`s or locally Miller`s and Metcalf`s...