Target collected $994 million in IEEPA tariff refunds last quarter, adding $752 million to net earnings and $1.65 to earnings per share, but CFO Jim Lee said none of it will go back to shoppers and the money will fund lower prices instead, the same position Walmart staked out in May. Amazon disclosed roughly $640 million in its filing and has said reimbursement will reach only a small group of affected customers, while Nike, which expects to recover $986 million, has stayed quiet even as shoppers sue it for keeping the money. FedEx and UPS began sending refunds to customers this month, and FedEx is holding about $800 million for that purpose. Roughly $100 billion of the $166 billion collected had been certified for refund as of July 31, according to Fortune.
