This story was originally published on sister site, Modern Retail.
Tariff refunds were a massive tailwind for Target last quarter that could help it continue to lower prices.
Target received $994 million in pre-tax tariff refunds during the second quarter, the company reported in its earnings release Wednesday morning. The tariff refunds boosted Target’s second-quarter operating income 94% year over year to about $2.6 billion, or 9.6% of sales. They improved the company’s full-year operating income margin rate by about 90 basis points to around 6%.
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