Target lowering prices: What you need to know

Chain retailer Target is lowering prices on thousands of items in stores across the U.S. to compete with online retailers like Amazon.com.

The retailer announced it was changing prices on items like cereal, paper towels, baby formula, bath tissue and more. Target will also continue to offer special sales and additional savings on products throughout the year.

"We want our guests to feel a sense of satisfaction every time they shop at Target," says Mark Tritton, Target executive vice president and chief merchandising officer. "Part of that is removing the guesswork to ensure they feel confident they're getting a great, low price every day."

FIVE FAST BUSINESS READS

• Local Habitat for Humanity names new executive director

• Store openings and closings: What’s going on in local retail?

• 5 new restaurants and retailers coming to The Greene

• At Home expands in Dayton: 5 things to know about the chain’s growth

• Queso is coming to Chipotle next week: 5 things to know

In Other News

Party City closing all stores after nearly 40 years in business

Big Lots to close all of its local, national stores: Sales to start...

WOMEN IN BUSINESS: Kelly Gray, Hot Head Franchising dba Hot Head...

UnitedHealthcare CEO’s killing brings increased scrutiny on security...