Eye on Retail: CEO on Target slowdown

Target Corp., the national mass merchant, is dealing with cautious customers, according to CEO Brian Cornell, who spoke recently on CNBC.

Target shoppers are "buying less stuff, even within food and beverage,' Cornell said.

The Minneapolis-based retailer has seen seven consecutive quarters of declines in discretionary goods, both unit sales and dollar sales. "So they're buying less apparel, less items for the home, fewer toys,” he said. 

The Target CEO said he sees another more positive trend among Target's customers: “The American consumer is enjoying those seasonal moments.”  And it's been happening for several years.

For instance, Halloween, summer cookouts, Mothers' Day, Fathers' Day. “They are still enjoying those moments and they keep looking for newness,” Cornell said.