Target CEO, Brian Cornell, acknowledged the accusations of price gouging in retail that have been directed at the company in a recent statement. He commented, “We understand the concerns of our customers during these trying times and want to assure them that we are doing our best to provide affordable necessities.”
Cornell emphasized that Target does not and will not engage in price gouging practices. He said, “We have rigorous policies in place to ensure price integrity. Any discrepancies that arise are unintentional and are corrected as soon as we become aware of them.”
He noted that the company has faced multiple challenges due to the ongoing global situation, including rising expenses, transportation costs, inflation, and a strained supply chain.
Furthermore, Cornell said that they have systems in place to monitor prices and make necessary adjustments in the face of changing market conditions. He also highlighted that the company is making investments to improve supply chain resilience and contain costs wherever possible.
“We take our commitment to providing value very seriously and continue to work diligently to strike a balance between quality, availability and affordability,” the CEO added.
Lastly, he urged customers who feel they have been unfairly charged to contact Target’s customer service department, stressing that the company’s primary focus is ensuring that customers are satisfied.
He concluded his statement by reassuring customers about the company’s commitment to fair pricing, saying, “We are committed to upholding the highest standards of integrity and being a reliable retailer that consumers can trust for their everyday needs.”
