Target has fallen well behind Walmart, but Target's price cuts may not be enough to get customers back in the door.

With the U.S. being above the Federal Reserve’s 2% target for 5 years in a row, major retailers across the nation have taken a drastic approach amid increased competitive pressure.

Target's merchandising leaders previewed the company's ambitious plans to overhaul key categories, including home and apparel, at an investor meeting.

Planning a Target run? The retailer just announced permanent price cuts on 3,000 spring favorites and a major redesign for over 600 store locations.

Target is lowering prices on 3,000 items by 5-20% for spring, including apparel, home goods, and essentials. Here's what to know.