Target has revealed it has received almost $1bn (£733.9m) in tariff refunds from the US government which boosted the retailer’s latest profits.
The American chain said it received a $994 million pre-tax reimbursement, which resulted in its second quarter operating income doubling to $2.6bn from $1.3bn last year.
When asked how Target would use tariff refunds, chief financial officer Jim Lee did not provide details but added: “We have and will continue to invest in price.”
100 to 1 odds that despite what Target is claiming, it will in no way be used to “invest in price” and reduce prices to their customers. Trump’s Tariffs ended up being an enormous transfer of wealth from the American public to corporations. It’s GOP heaven.
target has been enshittifying for a number of years. every few months they raise prices on some of the products.
4D chess move or crisis used to their advantage. I guess it doesn’t matter which it was, it worked.
They meant their stock price.
And why would it, anyways? It’s not like their suppliers or distributors are going to be lowering their prices. This is just giving Target free money while they continue charging more than ever.
And treating employees like rubbish.
Idk, seems like Walmart /Sam’s Club get more of those I’m my area, although they and their garbage values are bleeding over to Costco, the last few years.
Makes sense considering the logo perfectly aligns with their ammosexuality.