Target CEO on Inflation & Secretary Pete on U.S. Industry 03/05/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 5 March 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s Super Tuesday! Republicans in 15 states are voting for their preferred Presidential candidate while Democrats hold their own primaries and caucuses across multiple states. Target reported better-than-expected results in the holiday quarter. CEO Brian Cornell discusses the retailer’s plans to open new stores and navigate food and beverage inflation. Even Cookie Monster has an opinion: “Me hate shrinkflation!” Transportation Secretary Pete Buttigieg discusses airline safety and manufacturing standards in light of Boeing’s recent issues. Secretary Buttigieg weighs in on border security, party politics in Washington, and job creation across the country. Plus, Google co-founder Sergey Brin has admitted, they “definitely messed up,” on the company’s AI Gemini training, and Jeff Bezos has replaced Elon Musk as the world’s richest person–for now. Megan Cassella - 03:39 Brian Cornell - 11:48 Secretary Pete Buttigieg - 26:56 In this episode: Pete Buttigieg, @SecretaryPete Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod and I'm C.N.C. producer Cameron Costa.
0:08.0	On today's episode, Target beats Wall Street's expectations.
0:13.0	CEO Brian Cornell joins us for an exclusive interview on his results and his prices.
0:19.0	Inflation has been the stickiest with food and beverage.
0:23.2	How sticky?
0:24.0	Cornell explains.
0:25.2	If I go back to pricing pre-pandemic
0:27.5	for many food and beverage items,
0:29.5	they're up 20 or 30 percent.
0:31.3	Inflation nation, even Cookie Monster is getting involved.
0:35.4	Me hate shrinkflation.
0:36.9	Me cookies are getting smaller.
0:39.6	Plus, Transportation Secretary Pete Budajev Airline Safety and DC politics.
0:45.6	We need to make sure that we highlight the things that are going right and continue to pay attention
0:49.7	to the things that are going wrong.
0:52.0	It's Tuesday, March 5th, Super Tuesday.
0:55.0	Tuesday, sometimes I like less than Monday.
0:57.1	I always like Tuesday more than Monday.
0:59.3	And Squack-Pod begins right now.
1:02.0	Stand Becky by in three, two, one, queue please.
1:07.0	Good morning everybody.
	...

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