Target Expands Price-Matching Policy as Online Competition Grows

Target Corp. is expanding its price-matching policy in stores and on its website, a sign of escalating competition with Inc. and other retailers.

Starting Oct. 1, Target will match a longer list of competitors’ prices, going back as far as 14 days, the Minneapolis-based retailer said in a statement Wednesday. The previous policy had only extended back seven days and didn’t include as many competitors. Warehouse clubs such as Costco and Sam’s Club are now part of the list.

The change is the latest move by mass retail chain to prove they can compete with e-commerce sites on price. Wal-Mart Stores Inc., Target’s biggest competitor, also has renewed its focus on price in the past year, putting pressure on suppliers to lower their costs.

Target Chief Executive Officer Brian Cornell has been working to reduce expenses and refine the chain’s product assortment, a turnaround effort that followed a sales slump and massive data breach in the holiday season of 2013.

Before it's here, it's on the Bloomberg Terminal.