Target Cuts Annual Forecasts as Tariff Pressure Mounts, Demand Slows Further

Target slashed its annual sales forecast on Wednesday after posting a sharp fall in quarterly same-store sales, attributing the declines to weakened consumer confidence and a pullback in discretionary spending due to U.S. President Donald Trump's tariff war.

Shares of the company were down 4.2% in volatile premarket trading after Target also said that its first-quarter performance was impacted by changes made to its diversity, equity and inclusion policies (DEI) in January.

The big-box retailer's results showcase the pressure that American consumers are under...

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