Target receives $1bn boost from Trump tariff refunds
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."
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13 replies
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.
4D chess move or crisis used to their advantage. I guess it doesn't matter which it was, it worked.
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.
They meant their stock price.
target has been enshittifying for a number of years. every few months they raise prices on some of the products.
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.
All the more reason to never go there. I used to love it there too.
I hate to say it, but Walmart is better. I don't go there, though... I get it delivered.
I can't wait to spend my tarrif refund! I'm sure it's coming any day!
PROFITS
PROFITS
Profits
profits
^profits^
Ouch my financial trauma
I'd be fine with citizens committing arson on Target locations.