By Terri Dillard
Target found themselves in a rather big jumbled mess, and boy, it’s a hot mess!
Target CEO Brian Cornell addressed the recent “silence” from leadership during a “tough few months” in an email sent to employees on Tuesday. Target’s decision to discontinue its diversity and equity initiatives just days after President Donald Trump’s inauguration, for which Target had donated $1 million, was interpreted as tacit endorsement of the Trump administration’s efforts to dismantle programs that offer greater opportunities to historically marginalized communities.
While many Target stores have experienced declines in recent months, the company’s decline was more significant compared to its competitors. Costco, held up by activists as an alternative since it resisted a push to end DEI efforts, is reported to have gained 2.2% in February and 7.5% in March. Best Buy saw an increase of 1.4% in March, a period that included its Tech Fest promotion. Cornell and his executive peers within the company may face further pay cuts as the company grapples with two significant challenges: a controversial withdrawal from its DEI initiatives and renewed economic pressure stemming from Donald Trump’s escalating tariffs. Trump’s trade war presents further challenges, particularly for big box retailers. Tariffs, such as the 145% tax on imports from China, are expected to have significant implications. Retail experts predict a supply crisis that could lead to empty shelves as early as this summer. The tariff war is also anticipated to cause inflation to spike, potentially resulting in reduced spending at Target stores. Cornell, among the retail CEOs who have reportedly met with Trump to warn him about the impact of tariffs on supply chains, is among those affected.
The early effects of boycotts and the DEI backlash may be evident in the company’s first-quarter 2025 results, which are released on May 21. I am looking forward to seeing!
Cornell’s own pay has decreased from $77.5 million in 2020 to a still substantial $9.9 million in 2024. It seems the Trump administration has given Target, the retail giant, a taste of their own medicine after their meeting with President Trump regarding the effects of tariffs. Cornell’s leadership also lacked any concrete steps that he and the leadership team will take to reverse course.
Several individuals and groups are leading boycotts against companies that are reversing their DEI initiatives. The Black Press, Westside Gazette Newspaper, and NNPA have been particularly notable and impressive in their selective purchasing and educational campaign efforts, which have inspired me and others. As we continue to support companies that prioritize diversity and equitable practices, our selective purchasing decisions and educational pursuits have significant power. Many individuals, including myself, have realized that we possess substantial buying power. It’s encouraging to know that we are not alone in this endeavor, as evidenced by Target’s current traffic and business reports.
We will continue the Target boycott indefinitely.
