Target CEO Brian Cornell met with President Joe Biden on Thursday afternoon as the retailer — and the White House — try to figure out U.S. consumers.
Cornell is one of about a half-dozen business leaders across industries who offered up their point of view on the economy and the labor market at the White House. Other attendees at the meeting with Biden were expected to include Brendan Bechtel, CEO of construction and engineering firm Bechtel Group; Calvin Butler, CEO of energy and utility company Exelon; Kenneth Chenault, chair and managing director of venture capital firm General Catalyst; Thasunda Brown Duckett, CEO of financial services company TIAA; Arvind Krishna, CEO of IBM; and Judy Marks, CEO of Otis Worldwide, a manufacturer of elevator, escalator and similar equipment, according to the White House.
The CEO huddle was closed to the press.
In a statement, Target said it appreciated the chance to “participate in this important conversation” but provided few specifics about what was discussed.
“While they are incredibly resilient, we know American consumers still face several headwinds that are leaving them with less discretionary income and driving difficult trade-offs in their family budgets,” the statement said.
The company said it’s committed to providing affordable prices for shoppers and attractive pay and benefits for employees.
In a statement after the meeting, the White House said th….
