Target will only raise prices as a ‘last resort’ despite concerns over tariffs

Target expects 2025 sales to dip slightly, and warns customers are reducing spending over tariff fears. - (Getty Images)

Target CEO Brian Cornell said that raising prices to offset Trump-era tariffs would be a “last resort,” as the company reported weaker-than-expected first-quarter sales and lowered its full-year outlook.

Cornell said Target has “many levers to use in mitigating the impact of tariffs,” without passing costs to consumers who are fearful of spending because the administration’s tariff plans.