Target is lowering prices and boosting its budget brands as it battles Walmart for shoppers on the hunt for deals

• Target posted its fourth consecutive quarter of comparable sales declines on Wednesday.
• The retailer increasingly appears to be losing market share to Walmart.
• To fight back, Target is cutting prices on thousands of items and leaning into budget-minded brands.

America's top two big-box retailers have borrowed quite a few strategies from one another over the past year, with different degrees of success.