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

Sales Performance - Target reported a nearly 3% decline in overall sales during the first quarter of 2025 compared to the same period last year [4] - The number of transactions, both in-store and online, decreased by 2.4%, while customers spent 1.4% less [4] Impact of Tariff Policies - CEO Brian Cornell indicated that uncertainty surrounding President Trump's tariff policies contributed to reduced consumer spending [5] - The company is facing potential price hikes as a response to tariff impacts, which are being considered as a last resort [6] Strategic Responses - Target's chief commercial officer, Rick Gomez, mentioned that the company is exploring various strategies to mitigate tariff impacts, including negotiating new vendor deals and adjusting product order schedules [6] - Walmart has also warned of inevitable price hikes on various products due to similar tariff pressures, indicating a broader industry trend [7]