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

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 said reactions to its DEI moves have adversely impacted sales, and protesters say they're not yet satisfied with the company's response.

ToplineTarget on Wednesday lowered its full-year forecast for sales in 2025, as executives said consumers have spent less amid unpredictability surrounding tariffs, the latest company to flag concerns and cut projections,

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

Target slashed its annual sales forecast on Wednesday after posting a sharp decline in quarterly same-store sales, attributing the declines to weakened consumer confidence and a pullback in discretionary spending due to U.

Target executives said consumers are still being careful what they spend, resulting in a nearly 4% comparable sales decline for the February-April period. More, the Minneapolis-based retailer predicts sales will be down mid-single digits for the year.