Target CEO Brian Cornell speaks at the 2022 Yahoo Finance All Markets Summit on measuring pricing amid elevated inflation.

Video Transcript

BRIAN SOZZI: Are shoppers to your store trading down? That seems like a lot of money for a basic essential.

BRIAN CORNELL: Yeah. Well, Brian, you know, core to our proposition is making sure we deliver great value and affordability every time you shop. So we measure pricing really carefully versus our competition. And we want to make sure we're priced right daily, and we deliver great value and affordability. So on those items that you're looking at, we want to make sure we have the right price every time you shop. And the guests expect that from Target.

BRIAN SOZZI: How is your private label business doing in this inflationary moment?

BRIAN CORNELL: It's been growing. So we now have a $30 billion own brand business, $30 billion. And it's performed incredibly well throughout the pandemic and continues to grow. So, whether you're shopping Good and Gather, or getting something for yourself, Goodfellow, that you can wear on set, or shopping any of our great brands, we now have $11 billion own brands in our portfolio. So that business just continues to perform and will perform over the holiday season.