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Walmart reported strong third-quarter earnings, exceeding expectations with a 5% sales increase, while Target's results fell short, leading to a significant drop in its stock. Both retailers are navigating a cautious consumer landscape influenced by inflation and changing shopping behaviors ahead of the holiday season.
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As inflation pressures persist, major retailers like Target, Walmart, and Aldi are significantly reducing prices on holiday meals and gifts. Target has announced price cuts on over 2,000 products, while Walmart promotes its 'inflation-free' Thanksgiving meal. These moves aim to attract budget-conscious consumers ahead of a challenging holiday shopping season.
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Grimmway Farms has recalled organic whole and baby carrots linked to an E. coli outbreak affecting 39 people across 18 states. The CDC advises consumers to discard the recalled products, which were sold under various brand names. This recall follows a separate outbreak tied to McDonald's Quarter Pounders, which has resulted in one death and over 100 illnesses.