NEW YORK — Target reported a 6.7% increase in first-quarter net sales to $25.44 billion for the quarter ended May 2 and raised its full-year net sales growth forecast to 4%, up from a previous projection of 2%. Comparable sales rose 5.6%, compared with a 3.8% decline in the year-ago period.

The Minneapolis-based retailer posted quarterly earnings of $781 million, or $1.71 per share, down from $1.04 billion, or $2.27 per share, in the same period a year earlier. Adjusted earnings per share were $1.71. Target said customers increased buying across all six of its main merchandising categories, and the company expects full-year earnings per share near the high end of its $7.50 to $8.50 range. The revised sales growth forecast would bring annual sales to $108.97 billion.

Chief Executive Officer Michael Fiddelke said increased first-quarter store traffic was broad-based across regions and customer types. He also acknowledged that boycotts had impacted the company's sales. In the last two years, the retailer's decision to roll back diversity, equity and inclusion initiatives led to protests and boycotts.

"We're encouraged to see a strong guest response so far," Fiddelke said. "We're maintaining a cautious outlook given the work we know we have in front of us and ongoing uncertainty in the macroeconomic environment."

In early March, company executives presented investors with a $6 billion plan to reverse three straight years of sales declines by remodeling stores, reclaiming the chain's reputation for stylish budget clothing, and improving store staffing and worker training. The retailer, once nicknamed "Tarzhay," focused on overhauling its home goods and clothing categories, with 75% of decorative home accessories such as pillows and candles set to be new.

New collaborations with labels including Roller Rabbit, an apparel and home goods brand known for its whimsical, block-print designs, resonated with shoppers, executives said. He said an expanded selection of toys costing under $10 was popular with customers.

Since taking the top job, Fiddelke has reshuffled the leadership team, increased spending on store staffing, and made cuts at distribution facilities and regional offices. The company named a former Walmart executive as its new head of supply chain. Target was one of the first major retailers to report financial results covering the February through April period.