Black Business News

Target Takes $12.4B Hit As Boycotts Grow

Target Corporation faces a $12.4 billion market loss as backlash grows over its DEI rollback. Black consumers and advocacy groups, including NNPA and NAACP, are leading economic protests, with calls for a 40-day spending fast to demand corporate accountability.

#TargetBoycott #BlackoutDay #EconomicActivism #DEI #BlackConsumerPower #NNPA #NAACP #CorporateAccountability

By Stacy M. Brown
Senior National Correspondent
@StacyBrownMedia
NNPA Newswire

Target Corporation’s stock plummeted by approximately $27.27 per share by the end of February, erasing about $12.4 billion in market value, according to the NY Stock Exchange.

The drop came on February 28, the designated economic Blackout day, and coincided with mounting backlash over the retailer’s decision to abandon its diversity, equity, and inclusion (DEI) commitments.

The National Newspaper Publishers Association (NNPA) has taken action through its Public Education and Selective Buying Campaign. NNPA President and CEO Dr. Benjamin F. Chavis Jr. said, “Black consumers helped build Target into a retail giant, and now they are making their voices heard. If corporations believe they can roll back diversity commitments without consequence, they are mistaken.”

Reverend Jamal Bryant, pastor of New Birth Missionary Baptist Church in Georgia, has led calls for a “40-Day Target Fast,” urging Black consumers to withhold their spending at the retailer. “Black people spend $12 million a day at Target,” Bryant said. “If we withhold our dollars, we can make a statement that cannot be ignored.”

The NAACP also issued a Black Consumer Advisory, urging Black consumers to support businesses that remain committed to investing in Black communities.