Powerful corporations are using the pandemic as an excuse to raise prices and increase their profit margins – while consumers pay the price.

What is contributing to higher prices at the checkout line?

Corporate profiteering and monopoly power are big drivers of price increases. Megacorporations are taking full advantage of recent crises – the pandemic, supply chain issues, and the war in Ukraine – to charge customers more and pad their profit margins. And they hold enough market power to do so without fear of losing customers to other competitors. 

How does corporate profiteering impact workers, families, and small businesses?

While megacorporations are enjoying record-breaking profit margins and Wall Street is getting the “biggest payout in a decade,” people are struggling to afford basic necessities, like gas, groceries, diapers, and prescription drugs. And small businesses are struggling to keep their doors open. 

What are CEOs and their shareholders saying?

CEOs are brazenly boasting to investors about the pay off of their “pricing strategies.” But you don’t have to take our word for it. Decide for yourself.

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3M

3M outperformed expectations after price increases & saw profits decrease by less than expected after hiking prices on its products 3M saw flat sales and a 4.7% drop in profit in Q4 2021, a bet...

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Best Buy reported billions in buybacks while hiking prices on appliances Best Buy’s CFO said the company “flowed” the increased prices of appliances onto the consumers.  “Matt Bilunas,...

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Chevron’s CEO told analysts the company had cut back on capital spending in favor of share buybacks and expanded dividends Chevron’s CEO touted a “higher dividend,” share buybacks, and a ...

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Chipotle

Despite expanding sales and profit margins, Chipotle’s CEO framed price hikes as a response to wage pressures Chipotle’s CEO said prices had increased 6% year over year, and suggested it was a ...

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Colgate

Colgate introduced a new $10 toothpaste as part of its strategy to raise prices overall Colgate recently introduced a $10 toothpaste, a premium product the CEO called “vital” to the Company’s...

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ConAgra

ConAgra rose prices while benefiting from poorer workers and work-from-home ConAgra CEO said the company was benefitting from “inflation-driven pricing actions and lower-than-expected elasticitie...

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