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."

you are viewing a single comment's thread
view the rest of the comments
[–] [S] 97 points 2 months ago* (7 children)

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.

  • source
  • hideshow 7 child comments