Target told its suppliers they’ll have to foot the bill for any additional costs related to tariffs on goods from China, because it has no intent to raise the prices it charges customers.
A Target representative confirmed the retailer sent a vendor letter. The news was first reported by Oregon Public Broadcasting, which cited a letter from Target chief merchandising officer Mark Tritton, who said the retailer will “not accept any new cost increases” and its “expectation is that [suppliers] will develop the appropriate contingency plans so that we don’t have to pass price increases along to our guests.”
It
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in