Target's sales declined by 2.8% in the first quarter, falling short of Wall Street expectations, as customers express economic worries and respond to a decrease in diversity initiatives. The retailer anticipates further declines in sales through 2025. Despite an uptick in online sales, in-store transactions fell sharply. Following backlash against reduced LGBTQ+-themed products, Target is restructuring its management to accelerate decision-making and improve sales strategies amidst a challenging retail environment.
Sales at Target fell more than expected as the retailer warned of further declines throughout 2025, attributed to customer concerns over the economy and increased tariffs.
Target's decision to scale back diversity, equity, and inclusion initiatives incited backlash, reducing LGBTQ+-themed merchandise for Pride Month and alienating various customer groups.
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