- Target eliminated Black employee advancement goals in January 2024
- 40-day Christian boycott overlaps Lent through April 13
- PepsiCo reverses DEI stance after Sharpton pressure
Target's decision to abandon diversity initiatives has ignited one of 2024's most significant corporate controversies. The retailer faces mounting pressure from both civil rights leaders and religious groups following its January 24 announcement discontinuing workforce diversity targets and external audits.
Rev. Al Sharpton's planned meeting with CEO Brian Cornell follows successful negotiations with PepsiCo, where the beverage giant agreed to reconsider DEI cuts after boycott threats. This pattern reveals a growing trend: 62% of Fortune 500 companies have reduced diversity spending since 2022, according to McKinsey data.
Atlanta's New Birth Baptist Church exemplifies regional impacts, mobilizing 17,000 congregants through TargetFast.org. The Georgia boycott's timing proves strategic - Lenten spending typically accounts for 18% of retailers' Q1 revenue, per National Retail Federation data.
Legal experts warn DEI rollbacks could expose companies to Title VII lawsuits. Target's stock (TGT) has underperformed the S&P Retail Index by 9% since February, suggesting investor concerns about brand reputation damage.
The retailer's internal memo about reevaluating partnershipscoincides with Black-owned business collaborations dropping 34% year-over-year. Industry analysts note this contradicts Target's 2020 pledge to spend $2B with diverse suppliers by 2025.
As Easter approaches, faith leaders emphasize symbolic timing: A retailer profiting from Holy Week sales while abandoning ethical commitments faces divine judgment,stated Bishop T.D. Jakes in a Dallas Morning News interview.