Target Corp. (TGT) is conservative in its expectations of holiday spending this year.

Target's CEO Gregg Steinhafel said that sluggish consumer spending an ailing economy may weaken holiday purchases, Reuters reported.

Consumer spending has strengthened several times, only to fall back again later, Steinhafel said.

"It's like a game of whack-a-mole," Steinhafel said.

Still, Target is more hopeful than rival Wal-Mart Stores (WMT). Bill Simon, Wal-Mart's CEO for the United States, said adults could expect to receive basic gifts only this year.

"I don't believe it is going to be a socks and underwear Christmas," Steinhafel said.

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I see that Steinhafel makes no mention of the 80,000 plus facebook members that are currently boycotting Target. I bet that has something to do with their conservative projections for the holiday season.

October 12 2010 at 2:04 PM Report abuse rate up rate down Reply

As long as Target and Walmart keep helping to export decent paying American Manufacturing jobs, replacing them with low paying jobs, and the average person's appetite for cheap imported crap, we're all screwed. There's no way to sustain a good economy and national security without our manufacturing of goods. As the middle class is being decimated, of coarse even the big box retailers are going to see their sales continually decline as long as our money is going overseas. We're selling out our future generations so we can currently "save money, live better" and "expect more, Pay less."

September 24 2010 at 11:41 AM Report abuse rate up rate down Reply