Trump Tweets Target Following Brian Cornell's Comments on "Very Strong Consumer Environment"
MINNEAPOLIS, MN - Target CEO Brian Cornell has had nothing but cause for celebration this month, it seems, after the retailer reported its most robust growth in the last decade in a quarterly report released last Wednesday. And now the executive is earning praise from the President via Twitter, as well—a rarity for a POTUS that is, perhaps, historically more frequently foe than friend to retailers on the internet.
“There's no doubt that, like others, we're currently benefiting from a very strong consumer environment—perhaps the strongest I've seen in my career,” Cornell told analysts in a conference call last week—after Target reported robust increases in traffic growth and comparable sales and boosted its yearly outlook.
Trump took to Twitter to praise the CEO—and to toot his administration’s horn.
“Target CEO raves about the Economy…A big statement from a top executive. But virtually everybody is saying this, & when our Trade Deals are made, & cost cutting done, you haven’t seen anything yet!” the President tweeted last Friday.
The Minneapolis/St. Paul Business Journal noted that, while Cornell’s comments did celebrate the strength of the economy, the executive also expressed concerns about the administration’s stance on trade.
"As a guest-focused retailer, we're concerned about tariffs because they would increase prices on everyday products for American families. In addition, a prolonged deterioration [in] global trade relationships could damage economic growth and vitality in the United States," Cornell noted.
Will a buoyant economy outpace anxiety over trade conflict? Will the President’s commendation sour into consternation after learning about the “prolonged deterioration” comments? AndNowUKnow will continue to report.