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.
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.
Cornell was asked during an interview on CNBC: “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?
Cornell responded by noting that the retail giant has reduced prices on roughly 5,000 items.
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“I’ll put my retail hat on for a second,” he said. “You two talk to industry leaders in every different sector. Is there a more competitive space than retail?”
“We’re celebrating this morning, the fact that we delivered a margin…