US EditionTarget cuts sales outlook as retailer blames tariff uncertainty and backlash to DEI rollback
- Target reported a 2.8% sales decline for the first quarter of 2025, attributing the drop to lower customer spending across nearly 2,000 stores nationwide.
- The sales decline followed tariff uncertainties after President Trump threatened high import taxes on Chinese goods, later reduced from 145% to 30%, and a backlash from the company's rollback of some diversity, equity, and inclusion initiatives.
- Target CEO Brian Cornell acknowledged dissatisfaction with results and urged urgent action to counter economic volatility and consumer caution, especially given competition from Walmart and Amazon.
- The company reported earnings of $1.04 billion, an increase from $942 million the previous year, but its quarterly sales of $23.85 billion missed analysts’ projections of $24.23 billion. Over the past 52 weeks, the company's shares have declined by more than 37%.
- Target plans to introduce 10,000 new items, led by a new decision-making office, while maintaining forecasts of a low-single digit sales decline for 2025 amid ongoing tariff pressures and customer spending pullback.
231 Articles
231 Articles
When DEI Gets Cut, So Do Profits: The Real Cost of Abandoning Equity
Target and other corporate giants have scaled back their DEI programs, leading to a decline in sales and trust among consumers, while the company's CEO, Brian Cornell, took a 50% pay cut. The post When DEI Gets Cut, So Do Profits: The Real Cost of Abandoning Equity appeared first on The Washington Informer.
Target Messed Around And Found Out, Reports 1st Quarter Sales Slump
Source: Gary Hershorn / Getty Who would’ve thought alienating part of your customer base would result in lower sales? Clearly not Target, whose months-long FAFO moment has resulted in a pronounced dip in first-quarter sales. According to AP, Target reported a 2.8% drop in first-quarter sales compared to last year, earning $23.85 billion. While that’s an ungodly sum of money by any estimation, it fell short of the $24.23 billion Wall Street was …
Target sales fall as DEI boycott hits bottom line
Major retailer Target reported that comparable sales — which include in-store and online sales – fell 3.8% in the most recent quarter ending on May 3. The company announced in its earnings report that its total first-quarter revenue came in at $23.8 billion, down from $24.5 billion in 2024 — a 2.8% decline year-over-year. What's causing the sales decline? CEO Brian Cornell cited several factors behind the slump, including reduced spending on non…
Tariffs, Boycotts Slam Target’s Bottom Line
By Stacy M. Brown Black Press USA Senior National Correspondent Target Corporation is projecting a decline in annual sales and profits for 2025 as the retail giant struggles with fallout from its decision to end its diversity, equity, and inclusion (DEI) programs, pressure from new tariffs, and organized boycotts by Black consumers and media. The company reported first-quarter net sales of $23.8 billion, a 2.8% drop from the same period last yea…
Coverage Details
Bias Distribution
- 66% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
