Target also reiterated fiscal-year guidance. It continues to expect a low-single digit decline in sales, while adjusted earnings per share will range from $7 to $9. Consensus estimates call for a roughly 1.5% drop in sales and adjusted earnings of $7.28 a share.

As Target announces a new CEO, the retailer is reporting declines in revenue and operating income. As shares tumble 10% their DEI pullback & tariffs are dragging on sales

Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.