<p>Target CEO Brian Cornell slammed claims by Democrat presidential nominee Vice President Kamala Harris on Wednesday that retailers were hurting consumers by engaging in price gouging.</p>
<p>Harris said last week that her plan to combat inflation that skyrocketed during the Biden-Harris administration was to implement price controls, which most economists oppose.</p>
<p>Cornell was asked during an interview on CNBC: &#8220;Have you boosted any of your profits from gouging on prices? And how prevalent and pervasive do you think that was in terms of causing the recent 40-year highs in inflation?&#8221;</p>
<p>Cornell responded by noting that the retail giant has reduced prices on roughly 5,000 items.</p>
<p><a href="https://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.amiracist.com/&amp;source=gmail&amp;ust=1724211156439000&amp;usg=AOvVaw2-L2DitSaIUj5wz8v0bgxx"><b>Tickets for “Am I Racist?” are on sale NOW! Buy here for a theater near you.</b></a></p>
<p>&#8220;I&#8217;ll put my retail hat on for a second,&#8221; he said. &#8220;You two talk to industry leaders in every different sector. Is there a more competitive space than retail?&#8221;</p>
<p>&#8220;We&#8217;re celebrating this morning, the fact that we delivered a margin rate of over 6%,&#8221; he said. &#8220;You talk to other CEOs who are delivering up income of 20%, 30%, 40%, 50%,&#8221; he continued. &#8220;So we&#8217;re in a penny business.&#8221;</p>
<p>&#8220;It is a penny business, and it&#8217;s a very competitive space, and we provide the value consumers are looking for,&#8221; he added.</p>
<p>He also said that raising corporate taxes, which Harris supports, would hurt businesses.</p>
<p>&#8220;When the taxes were reduced, we put our capital to work,&#8221; he said. &#8220;Since 2017 when the corporate taxes were reduced, we spent close to $50 billion of capital building new stores across the country, remodeling over 1,000 stores.&#8221;</p>
<p><b><a href="http://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.amiracist.com/&amp;source=gmail&amp;ust=1724211156439000&amp;usg=AOvVaw2xQ8bdTcpfdrPBAzczIuck">WATCH THE TRAILER FOR ‘AM I RACIST?’ — A MATT WALSH COMEDY ON DEI</a></b></p>
<p>&#8220;We put the business dollars back into our business,&#8221; he continued. &#8220;It&#8217;s helped us grow since 2017 our top line almost $40 billion, and I think it&#8217;s the way America should work.&#8221;</p>
<p>WATCH:</p>
<blockquote class="twitter-tweet" data-media-max-width="560">
<p dir="ltr" lang="en">Target CEO Brian Cornell rips Kamala Harris&#8217; claim that retailers are &#8220;price-gouging&#8221;:</p>
<p>“We’re in a penny business. It’s a very competitive space.” <a href="https://t.co/BsmZnL8TDI">pic.twitter.com/BsmZnL8TDI</a></p>
<p>— Ryan Saavedra (@RealSaavedra) <a href="https://twitter.com/RealSaavedra/status/1826451687172661375?ref_src=twsrc%5Etfw">August 22, 2024</a></p></blockquote>

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Target’s CEO Blasts Kamala’s Claim That Retailers Are Price Gouging

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Target’s CEO Blasts Kamala’s Claim That Retailers Are Price Gouging