Shares fell 3.5% in midday trading Wednesday. Quarterly sales fell 2.8% from last year to $23.85 billion, and that was short of the $24.23 billion Wall Street expected, according to FactSet.

Target’s challenge to revive sales and its status as a cheap chic retailer just got more complicated. Sales fell more than expected and the retailer warned they will slip for all of 2025 ...

But it’s been a complicated feat even without the tariff trade wars. Target’s shares have fallen more than 37% in the past 52 weeks. Target rival Walmart reported strong quarterly sales last week.