Target falls after annual comparable sales forecast comes in below expectations

Supermarket chain Target's TGT.N shares down 5.3% at $114.31 after being up around 4% premarket

Expects annual comparable sales to be about flat, compared with analysts' expectations of 1.8% increase, according to data compiled by LSEG

Says new tariffs on imports from Mexico and Canada, which took effect on Tuesday, could increase prices "over the next couple of days" for seasonal produce such as avocados

Co warns uncertainty around tariffs would weigh on the retailer's profit in the first quarter and doubled down on sourcing more of its products from countries including Guatemala

Including session's move, TGT stock has fallen 15.4% YTD