TARGET $TGT CEO ON CONSUMER & MACRO: "As we approach the holidays, we know consumers remain cautious. Sentiment is at a three-year low amid concerns about jobs, affordability, and tariffs. Yet they remain emotionally motivated. They want to celebrate with loved ones without overspending." "In addition, September apparel sales were hampered by unusually warm weather across the country, while October benefited from the response to our most recent Target Circle week as consumers continued to focus on value." "While our Q3 results were consistent with our expectations, we've continued to see a high degree of volatility in our business. In addition, we're mindful of the challenges facing consumers as exemplified by recent declines in consumer confidence." "There’s no question that this is a period of transformation for Target. The environment around us continues to evolve, whether it's shifting consumer demand, changing competitor dynamics, or broader macroeconomic pressures. Let me be clear, we are not waiting for conditions to improve. We are driving the change ourselves right now." "If you're frustrated with our recent performance, we are too, and our entire team is working incredibly hard to return to growth and live up to our full potential."