NEW YORK—Target Chief Executive Officer Brian Cornell pledged in a June blog post that the retailer would take necessary actions to adapt to a post-pandemic landscape, paring a record $15.1 billion in unsold merchandise.
Behind the scenes, Target’s actions this summer include putting pressure on its vendors, asking them to pick up the tab for transporting goods and requiring some to retain more merchandise at their own warehouses, 11 Target vendors told Reuters.
Six of the vendors said Target’s recent moves drive up their expenses and squeeze their profit margins at a time when Target wants to free up cash in order to restock its stores as consumers gear up for back-to-school shopping….