Target CEO responds to Kamala — We are not price gouging.
Target CEO addresses ‘price gouging’ accusations in retail
Target CEO Brian Cornell said there’s no room for price gouging in the competitive retail landscape.
Cornell was asked whether the tactic boosted Target’s profits, after Democratic presidential nominee Kamala Harris outlined a plan to stop price gouging.
He spoke to CNBC after Target beat quarterly earnings expectations.
There’s no room for price gouging in an ultra-competitive business like retail, Target CEO Brian Cornell said Wednesday.In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business.
He was asked by CNBC’s Joe Kernen, who referred to comments by Democratic presidential nominee Vice President Kamala Harris and asked if Target or its competitors ever benefit from price gouging. Harris last week proposed the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” saying some companies are charging excessively and fueling household inflation.
“We’re in a penny business,” Cornell responded, noting the small profit margins in the retail industry. He described the many places that customers can turn to check for lower prices or to find merchandise elsewhere, from going to stores to browsing on their phones to compare the prices of a gallon of milk at different retailers.
https://www.cnbc.com/2024/08/21/target-ceo-brian-cornell-weighs-in-on-price-gouging.html
Marxists like Kamala have childlike minds.
Target CEO addresses ‘price gouging’ accusations in retail
Target CEO Brian Cornell said there’s no room for price gouging in the competitive retail landscape.
Cornell was asked whether the tactic boosted Target’s profits, after Democratic presidential nominee Kamala Harris outlined a plan to stop price gouging.
He spoke to CNBC after Target beat quarterly earnings expectations.
There’s no room for price gouging in an ultra-competitive business like retail, Target CEO Brian Cornell said Wednesday.In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business.
He was asked by CNBC’s Joe Kernen, who referred to comments by Democratic presidential nominee Vice President Kamala Harris and asked if Target or its competitors ever benefit from price gouging. Harris last week proposed the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” saying some companies are charging excessively and fueling household inflation.
“We’re in a penny business,” Cornell responded, noting the small profit margins in the retail industry. He described the many places that customers can turn to check for lower prices or to find merchandise elsewhere, from going to stores to browsing on their phones to compare the prices of a gallon of milk at different retailers.
https://www.cnbc.com/2024/08/21/target-ceo-brian-cornell-weighs-in-on-price-gouging.html
Marxists like Kamala have childlike minds.