Target, DEI and Sales
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Target said reactions to its DEI moves have adversely impacted sales, and protesters say they're not yet satisfied with the company's response.
Target sales plunged in the first quarter amid concerns about Trump's tariffs, inflation and backlash to its pull back on DEI
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FOX 9 Minneapolis-St. Paul on MSNTarget's sales drop in Q1, and they may continue dropping all yearTarget's sales fell more than the Minneapolis-based retailer expected they would in the first quarter, and the company is warning they will slip for the rest of the year as shoppers limit spending.
President Donald Trump's tariffs are widening the gap between market-leader Walmart and Target, the companies' latest quarterly reports show, underscoring missteps at the smaller U.S. retailer amid economic uncertainty.
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Wall Street futures headed lower after a major U.S. retailer blamed its grim forecast on tariff concerns and oil prices rose.
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Target executives said consumers are still being careful what they spend, resulting in a nearly 4% comparable sales decline for the February-April period. More, the Minneapolis-based retailer predicts sales will be down mid-single digits for the year.
Target slashed its annual sales forecast on Wednesday after posting a sharp decline in quarterly same-store sales, attributing the declines to weakened consumer confidence and a pullback in discretionary spending due to U.