Updates

** Shares of big-box retailer Target TGT.N fell as much as 8% to $117.05 in morning trading

** Stock set for its worst day since April 2025, if losses hold

** "Despite our updated guidance, we're maintaining a cautious outlook, given the work we know we have in front of us, and ongoing uncertainty in the macroeconomic environment" - CEO Michael Fiddelke

** TGT, however, doubles its full-year net sales growth forecast to ~4%, as its turnaround strategy starts to pay off

** Q1 same-store sales rise of 5.6% beat expectations of a 2.5% rise; but Fiddelke says "we will not confuse this progress with potential"

** Firm reports quarterly adjusted EPS of $1.71; analyst on average expected $1.46 - data compiled by LSEG

** As of last close, TGT up 30% YTD