![]() “We’re seeing cost increases that are higher than our retail increases.” “We’re definitely protecting price,” Fiddelke said in a briefing. Another drag came from labor expenses at distribution centers. Gross margin, a measure of pricing power, fell in the third quarter on higher merchandise and freight costs, Target said in an earnings statement Wednesday. The company isn’t foisting all its cost increases onto customers, said Chief Financial Officer Michael Fiddelke, echoing recent comments by Walmart Inc. tumbled after warning that cost pressures are creeping up, stoking concerns that inflation will dent profits at big retailers.
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