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After the Bell: retail sales rise; coffee could cost less; 2023 Toyota Prius; Target profits fall

INDIANAPOLIS (WISH) — U.S. retail sales rose 1.3% in October, despite high inflation.

Shoppers spent more on groceries, gas, furniture and cars but cut back on electronics and sporting goods.

The problem is, consumers relied on debt to pay for most of it. Credit card balances keep going up, but the strength of consumer spending remains a problem for the fed.

Coffee could cost less

You next cup of coffee could soon cost less.

Coffee futures are trading down 35%. Rainy weather in Brazil means a strong coffee crop this year, and the U.S. dollar is also strong.

Combine the two and that’s potentially good news for coffee aficionados who have watched coffee priced jump 15% over the past year.

2023 Toyota Prius

The new 2023 Toyota Prius has 200 horsepower and promises 57 miles per gallon of gas.

But, everyone is talking about the looks of the car. Always considered boring, this new Prius is pointy and aggressive.

The price of the car has not yet been released.

Target profits fall

Target’s profits fell about 50% for its third quarter.

The company says sales slowed and told investors to lower expectations as we head into the holiday season. It also wants to cut $3 billion in total costs over the next three years.

Shares fell about 13% today.