Target falls after cutting annual forecasts on tariff pressures, sluggish demand
ReutersMay 21, 2025 10:44 AM
Shares of big box retailer Target TGT.N down nearly 2% at $96.10 premarket
Co slashes annual forecasts on rising tariff uncertainty and demand slowdown
Expects single-digit decline in annual sales vs prior forecast of net sales growth of around 1%
Expects annual adjusted earnings between $7.00 and $9.00 per share vs prior forecast of $8.80 to $9.80
Co's first-quarter comparable sales fell 3.8% vs analysts' estimates of a 1.08% drop, as per data compiled by LSEG
Logs adjusted profit of $1.30 per share vs estimates of $1.61 per share
Up to last close, stock down 27.4% YTD
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