Target Faces Sustained Boycott After DEI Rollback, Stock Plummets 33%

Target Corp.'s reversal on diversity initiatives has triggered a consumer revolt with tangible financial consequences. The retailer's stock has shed a third of its value since January 2025, erasing $20 billion in market capitalization as comparable sales decline for consecutive quarters. Foot traffic tells a damning story—down 3.3% year-over-year in August while rival Costco saw 5.2% growth.

The boycott movement continues gaining momentum, now backed by major teachers' unions and civil rights organizations. What began as protest from Black clergy has evolved into a sustained pressure campaign, with the National Action Network and Black Press associations amplifying calls for accountability. CEO Brian Cornell's August resignation underscores the severity of the crisis.

Market analysts note the unusual duration of this consumer-led backlash. Unlike typical short-lived boycott cycles, Target's sales slump shows no signs of abating seven months into the campaign. The retailer now serves as a cautionary tale for corporations weighing social commitments against potential backlash.