Target CEO Brian Cornell opposes Kamala Harris' proposed federal ban on corporate price gouging.
Target CEO Brian Cornell opposes VP Kamala Harris' proposed federal ban on corporate price gouging, stating that retailers like Target operate with minimal profits and cannot afford to price gouge. Retail executives argue that price controls can create more inflation, shortages, and a black market. Cornell mentioned that Target outperformed expectations in its second-quarter earnings, partly due to price cuts on 5,000 everyday items.
August 21, 2024
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