Target Is Latest Chain to Warn of Price Hikes Amid Tariff Uncertainty

Target reported that its sales fell during the first quarter of 2025. Spencer Platt/Getty Images Target is the latest retailer to reckon with the potential damages done to its business by President Donald Trump's tariff policies, and to warn of possible price hikes coming in the near future. The company, one of the bigger discount department store chains in the US, held an earnings call on May 21 where it reported some less-than-stellar first quarter numbers. Overall sales for Target fell nearly 3% during the first three months of 2025, compared to the same timeframe last year. The number of transactions, in-store and online, dipped 2.4%, while customers also spent 1.4% less. CEO Brian Cornell said that uncertainty around Trump's tariffs was one of the reasons customers pulled back on spending, even as the full effects of those import taxes might not be felt for a little while. He also acknowledged the consumer backlash to Target dialing back its diversity, equity and inclusion effo ... Read full article.