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Target reported a 2.8% sales drop in Q1 2025, blaming consumer anxieties over tariffs and a DEI policy backlash. CEO Brian Cornell warned of 'massive' potential tariff costs, stating price increases are a last resort. This follows similar warnings from Walmart and Best Buy. While a recent US-China trade deal reduced some tariffs, others remain, leading Target to forecast further sales declines. Decreased consumer confidence, partly fueled by inflation fears, also contributed to the downturn.

Prepared by Christopher Adams and reviewed by editorial team.