Target CEO Under Pressure as Boycott, Tariffs Hit Sales

Pressure is growing on Target Corp.’s chief executive officer after the retailer cut its sales forecast following a sharp pullback in consumer spending and a hit from tariffs and boycotts.

The report sent shares falling and raised questions over Brian Cornell’s ability to recapture growth after two years of choppy results — especially as economic turbulence is growing.

“It’s a great brand. It’s actually a great company. It just looks to us like it needs a new leadership,” said Bill Smead, chief investment officer of Smead Capital Management, which has owned the stock since 2017.

Target’s current ...