The US chain said it received a $994 million pre-tax reimbursement, which resulted in its second quarter operating income rising to $2.6bn.

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.”

  • zikzak025@lemmy.world
    102·
    2 days ago

    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.