Target shares sank 7% Wednesday morning after the retail giant lowered its full-year sales projection following mixed first-quarter results.

Sales at Target fell more than expected in the first quarter and the retailer warned they will slip this year as consumers, worried over the impact of tariffs, pull back on spending. Sales fell 2.8% to $23.

Target's sales fell more than the Minneapolis-based retailer expected they would in the first quarter, and the company is warning they will slip for the rest of the year as shoppers limit spending.

The retailer’s stock was up more than 2% in recent trading. At its current level near $95, Target is still below the price just above $98 at which it closed Tuesday before reporting its latest financial results —but also substantially off the sub-$91 lows it touched in response to those results.

Retailers have been treading carefully around the question of price increases and import taxes since Trump slammed Walmart last weekend.

Target, one of the nation's largest retailers ... the Trump administration on China and other countries. Shrinking corporate sales and profits could eventually shackle job growth, which has ...

"Target is also intensifying efforts to entice customers who are nervous about the economy and inflation. The retailer says it is offering 10,000 new items starting at $1 — with the majority under $20," ABC News reported.

Ticker: Target sales drop in 1st quarter and retailer warns they will slip for all of 2025; Canton company fined $11M