** Shares of big box retailer Target TGT.N down nearly 2% at $96.10 premarket

** Co slashes annual forecasts on rising tariff uncertainty and demand slowdown

** Expects single-digit decline in annual sales vs prior forecast of net sales growth of around 1%

** Expects annual adjusted earnings between $7.00 and $9.00 per share vs prior forecast of $8.80 to $9.80

** Co's first-quarter comparable sales fell 3.8% vs analysts' estimates of a 1.08% drop, as per data compiled by LSEG

** Logs adjusted profit of $1.30 per share vs estimates of $1.61 per share

** Up to last close, stock down 27.4% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))