He warns the goal of his work in a “very difficult environment”

Targeted CEO Brian Cornell He said on Wednesday that the company is wrestling with a “very difficult environment” after a quarter of the most softened revenue and the ongoing profit pressure that forced it to reduce its sales expectations throughout the year.

The retail giant, which is based in the semen, is trying to refine the traffic and return to growth, but the past three months have been distinguished in particular through the opposite winds on a wider scale, which is the president Donald Trump The customs tariff war, which threatened to raise the prices of consumers across multiple sectors.

The company has already warned earlier this year that there will be profit pressure throughout the year in the first quarter for the remainder of the year due to the induction uncertainty.

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To try to return to the long -term profitable growth, the company has developed a new multi -year growth initiative, called the Foundation’s acceleration office, and made changes to its executive wing.

“In the first quarter, our team moved to a very difficult environment and focused on providing the various militant, expertise and valuable guests from the goal,” CEO Brian Cornell said in a statement on Wednesday.

The changes, announced on Tuesday, aim to “build more speed and lightness in how we work, and to develop major possibilities to push profitable growth in the long run,” according to Cornell.

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Cornell said that the initiative of the Foundation’s acceleration office, led by the Executive Director of Operations, Michael Vidlek, will specifically help the company to operate more clearly, “create conditions for speed, ability to adapt, innovation and flexibility.”

During the first fiscal quarter, Target reported that its sales in the first quarter were 23.8 billion dollars, a decrease of 2.8 % from the same period of the past a year and under the overthrow of Wall Street of $ 24.32 billion. The profits of the equivalent of the share amounted to $ 1.30, which were also less than the 1.63 dollar Wall Street forecast.

Sales in open stores decreased for at least a year by 3.8 % in the first quarter, although Target said it still has a healthy digital growth, led by a 36 % increase in delivery on the same day through the loyalty program, Target Circle 360.

TARGET is now expected to decrease in sales in sales in the fiscal year 2025. It is expected that the profits of one share will be about $ 7 to $ 9 for the fiscal year 2025, a decrease from its previous expectations from 8.80 dollars to 9.80 dollars.

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“While these prominent points enhance our confidence in the basic health of our business, we are not satisfied with the current performance and we know that we have opportunities to make faster progress on our road map for growth,” Cornell said.

index	protection	last	Changing	% Change
TGT	Target corp.	98.18	+0.21	+0.21 %

Earlier this year, Cornell was among the CEOs who warned of the result of slapping the customs tariffs on the main commercial partners and even Trump met to discuss continuous trade negotiations with other countries and the impact of definitions imposed on imported products.