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 retailer's CEO attributed the results to weakness in discretionary spending, declining consumer confidence, uncertainty over tariffs, and shopper backlash against the company’s decision to halt diversity initiatives.

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