Updates

** Shares of big-box retailer Target TGT.N down as much as 7.7% at $90.60 in early trading

** Slashes annual forecasts on rising tariff uncertainty and demand slowdown

** CEO Brian Cornell says pricing decisions will largely depend on ongoing efforts to source more products in the U.S. and reduce reliance on China

** Expects single-digit decline in annual sales vs prior forecast of growth of around 1% and adjusted EPS between $7.00 and $9.00 per share vs $8.80 to $9.80 earlier

** Q1 comparable sales decline 3.8% vs estimates of a 1.08% drop and adjusted EPS of $1.30 misses estimates of $1.61, data compiled by LSEG

** CEO says reversal of some DEI policies played a role in Q1 performance, but he couldn't quantify the impact; TGT has been facing backlash for ending many of its DEI policies

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

(Reporting by Anuja Bharat Mistry and Neil J Kanatt in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))