Target, sales
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Target’s challenge to revive sales and its status as a cheap chic retailer just got more complicated. The discounter announced on Wednesday that sales fell more than expected in the first quarter, and the retailer warned they will slip for all of 2025 year as its customers,
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.
Target'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.
Ticker: Target sales drop in 1st quarter and retailer warns they will slip for all of 2025; Canton company fined $11M
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ToplineTarget on Wednesday lowered its full-year forecast for sales in 2025, as executives said consumers have spent less amid unpredictability surrounding tariffs, the latest company to flag concerns and cut projections,
Raising prices to cover the costs of President Donald Trump's tariffs will be Target's "very last resort," CEO Brian Cornell said.
Minneapolis-based retailer put its chief operating officer, Michael Fiddelke, in charge of a new unit that will find ways to change faster and add efficiencies.