After Walmart warned that prices on some everyday items may rise due to tariffs, Target Corp. said on May 21 that it will leverage its global supplier partnerships, disciplined financial management, strong balance sheet, and ample cash to remain competitive on pricing.
Despite those promises, Target CEO Brian Cornell acknowledged during a conference call with Wall Street analysts ahead of the opening bell that the company’s first-quarter performance was broadly disappointing and challenging. Further, he stated that the Minneapolis-based retailer will work diligently to mitigate the impact of tariffs on its customer base, despite the challenges involved.
