Some of the United States’ biggest retailers have been accused by a nonpartisan watchdog organization of profiteering from rising inflation levels across the nation.
In the new report (pdf) by Accountable.US, companies including Costco Wholesale Corp., Walmart Inc., Target Corp., CVS Health Corp., Kroger Co., and T.J. Maxx parent company TJX Companies Inc. are among those accused of utilizing increasing inflation rates to slap higher prices on their products, while simultaneously seeing near-record margins in 2021.
The report states that the companies made “at least $24.6 billion in increased profits during their most recent fiscal years,” as Americans continued to face the economic impacts of the COVID-19 pandemic.
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