Target Corp. cut its sales forecast following a sharp pullback in spending and a hit from tariffs, boycotts and consumer confidence.

The retail giant saw sales fall in the first quarter of 2025 amid uncertainty over tariffs and backlash for ending corporate diversity initiatives.

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