Target on Wednesday cut its full-year sales outlook, as executives said weaker discretionary spending, consumer uncertainty about tariffs and backlash to the company's rollback of key diversity, equity and inclusion efforts hurt its business.
First-quarter sales missed Wall Street's expectations and fell nearly 3% compared to the year-ago period. Transactions across Target's stores and website dipped by 2.4%. And the average amount customers spent during their online and in-store visits decreased by 1.4%.