Target (TGT) shares dropped in premarket trading after the company issued a lowered full-year sales projection following mixed first-quarter results. While adjusted EPS of $1.30 beat analyst expectations, revenue fell short at $23.85 billion, and comparable sales declined 3.8%. Target now anticipates a low-single-digit sales decrease and adjusted EPS of $7.00 to $9.00 for fiscal 2025, down from prior guidance. The company also announced a new "Enterprise Acceleration Office" to improve operational efficiency. Shares are down approximately 28% year-to-date.

Prepared by Christopher Adams and reviewed by editorial team.