› [I or T] to have an unpleasant or negative effect on someone or something : Rising fuel costs hit industrial and rural areas worst. Companies tend to be slow to lay off employees when hard times hit, but they are quicker to cease hiring.be hit by sth Oil firms have been hit by a 10% increase in petroleum tax.be hit with sth A tractor made in the United States and shipped to Chile is hit with $25,000 in tariffs and duties.
› [T] to reach a particular level or amount, especially a very high or very low one: Sales hit $300 million within the first three years.hit an all-time/a record high/low Last week property shares hit a record low. The company is very capable of hitting its targets well ahead of schedule.
› [T] informal to experience a difficult situation or stop making progress with something: Talks between the bosses and the union yesterday hit a major setback. The project began smoothly, but then we began to hit some problems.
hit the market/shops/shelves › informal to become available for people to buy: Although the toys are only just now hitting the market, a huge advertising campaign has been in place for several months.
be hit hard/be hard hit (by sth) › to be badly affected by something: Car makers were among the hardest hit as consumers bought fewer vehicles last month. The area has been hit hard by job losses in textiles and furniture.
hit a wall › to reach a point at which no more progress can be made: The energy bill is expected to hit a wall in the Senate, where Republicans have enough votes to block it.
hit bottom › informal to reach an extremely low level: The U.S. economy is beginning to show signs that it is hitting bottom and that a turnaround could get underway later this year.
hit it big › informal to become very successful: The company hit it big when they received an order for three commercial satellites.
hit the buffers › mainly UK informal to suddenly stop being successful or stop happening: The main worry is that the economy might hit the buffers. Their plans to become one of the world's largest telecoms firms has hit the buffers.
hit the ground running › informal to immediately work hard and successfully at a new activity: Companies often expect staff to hit the ground running.
hit the headlines › to receive a lot of attention in news reports: He hit the headlines when he sold a million shares at £5.80 a share.
hit the jackpot › to achieve financial success: They need a licensing deal to a big drug company before judging if their biotech venture has hit the jackpot.
hit the wall US › to be a financial failure: The question mark is whether the company is going to hit the wall.