Target said reactions to its DEI moves adversely affected its first-quarter sales.Protesters say they're not satisfied with the company's response so far.Additional protests are planned for Sunday, the fifth anniversary of the murder of George Floyd.

Target sales plunged in the first quarter amid concerns about Trump's tariffs, inflation and backlash to its pull back on DEI

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, worried over the impact of tariffs and the economy, pull back on spending.

Target shares sank 7% Wednesday morning after the retail giant lowered its full-year sales projection following mixed first-quarter results.

Target slashed its annual sales forecast on Wednesday, after a surprisingly sharp fall in quarterly same-store sales, as customers pulled back on discretionary purchases due to ongoing worries about inflation and the economy due to U.S. President Donald Trump’s trade war.

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.

Target cut its annual sales projections Wednesday. The company now expects a low-single digit decline for 2025 after projecting a 1% increase for sales in March. It also forecast annual per-share earnings of $7 to $9, excluding gains from legal settlements this year.

Wall Street futures headed lower after a major U.S. retailer blamed its grim forecast on tariff concerns and oil prices rose.