Target’s efforts to revive sales are faltering, with Q1 revenue falling more than expected and full-year sales now projected to decline.

The company blamed weak consumer spending, economic concerns, and the impact of customer boycotts related to its handling of LGBTQ+ and DEI issues.

Comparable store sales dropped 3.8%, and transaction volume also declined.

Target’s stock fell 3.5%, and the company cut its annual forecast.

Leadership changes and a new initiative led by the COO aim to speed up decision-making, the Associated Press has reported.

Target also plans to offer 10,000 new low-cost items to attract budget-conscious shoppers.

Written by B.C. Begley