FINANCE

Target CEO: Power outage won’t impact earnings forecast; concerned about tariffs

BY CSA Staff

The chief executive of Target Corp. took to the air to apologize to customers for the outages that shut down the chain’s registers and credit-card processors over Father’s Day weekend.

In an interview on CNBC’s “Squawk Box,” Brian Cornell apologized to customers for a disappointing weekend and also said there was no impact to the company’s earnings forecast as a result of the shutdown. But he did express concern about the potential impact of $300 billion in proposed new tariffs on Chinese goods.

“We’ve got a few more levers to pull, but if these tariffs go into effect, prices are going to go up and that’s going to affect consumers,” Cornell said.

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