1319 ET - The consumer is being more mindful about spending since President Trump took office, according to Target CEO Brian Cornell. Target's sales in February fell year-over-year reflecting persistent economic uncertainty that's made consumers cautious, particularly in discretionary categories, Cornell says on a call with analysts. Target also says the tariffs are creating uncertainty. As a result, the retailer will be maintaining a larger-than-normal cushion on the balance sheet, and will no longer provide quarterly guidance, CFO Jim Lee says. "This change reflects our expectation of continued elevated volatility, which limits the effectiveness of quarterly forecasts," Lee says, noting that sales have become more volatile since the recent holiday season. Target falls 3.7%. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
March 04, 2025 13:19 ET (18:19 GMT)
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