The American retail chain Target is lowering its sales forecast following unexpectedly weak quarterly figures. Net sales are now expected to decrease by a few percent this year.
Previously, the forecast was around plus 1 percent.
Target's CEO Brian Cornell points to a number of factors in the US, including decreased consumer confidence and uncertainty surrounding the Trump administration's tariffs.
Another factor that could explain the setback is that customers are reacting negatively to the campaign against diversity and inclusion in the US – which has forced Target to strike a number of diversity goals in its own personnel policy.
Last week, competitor Walmart warned of price increases due to higher purchase prices as a result of the administration's tariffs. This got the US President Donald Trump to go off the deep end and tell Walmart to "swallow the tariffs" instead of passing the cost on to customers.
