Target has lowered its annual sales forecast after a 5.7% drop in revenue for the quarter ending May, citing a “highly challenging environment” worsened by U.S. trade tariffs and backlash over its diversity, equity, and inclusion (DEI) policies.
Target Slashes Outlook After Sales Drop, Trump’s Tariffs Bite
The retail chain has struggled with falling demand for non-essential goods and sourcing challenges, with about 30% of its store-label products still coming from China.
Target plans to diversify suppliers and delay some orders to mitigate tariff costs. CEO Brian Cornell said pricing decisions remain uncertain, while DEI rollbacks and a shareholder lawsuit have added to the company’s mounting pressures.
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