logo
Home Depot Responds to Nationwide Boycott

Home Depot Responds to Nationwide Boycott

Newsweek30-06-2025
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Home Depot has responded to the People's Union USA's calls for a monthlong boycott. In a statement shared with Newsweek, a spokesperson said "We're proud to have a culture that welcomes everyone."
Newsweek has reached out to the founder of the People's Union USA via email for comment.
Why It Matters
Boycotts, led by consumers against prominent U.S. companies have been sweeping the country in recent months. Some boycotts have come as companies have been accused of scaling back their diversity, equity and inclusion initiatives (DEI), following the return of President Donald Trump to office, where he moved to dismantle such practices.
The Home Depot logo is displayed outside a store on March 10, 2025 in San Diego, California.
The Home Depot logo is displayed outside a store on March 10, 2025 in San Diego, California.What To Know
The People's Union USA is a nonpartisan group focused on "economic resistance, corporate accountability, and real justice for the working class."
Its founder, John Schwartz, said in a video shared to Instagram and TikTok "This July, we are boycotting Amazon, Starbucks and Home Depot for the entire month of July. And we're not just doing this because of their political view we are doing it for the people."
Schwartz went on to say in the video that Home Depot has "Quietly erased their Diversity, Equity and Inclusion page, as if standing for fairness or for equality or for representation, was something to be ashamed of. That was a choice."
In response, a Home Depot spokesperson shared a statement with Newsweek which read in part "For over 45 years, our business success has been driven by our eight core values, including respect for all people and taking care of our people."
The statement continued that Home Depot is "proud," to have a culture that "welcomes everyone."
It continued, "We believe it helps us achieve our business goals by supporting associates, building relationships and fostering innovation."
The spokesperson added: "As we continually refine our communications, we have been using 'WeAreTHD,' which we have long used to represent the welcoming culture that we've built here."
The "WeAreTHD" page on Home Depot's website reads in part "Our culture and our associates provide intangible and hard-to-replicate competitive advantages, which have been key to helping us navigate challenging market conditions."
The page does not mention diversity, equity or inclusion.
The website did originally have a page that championed the company's diversity, equity and inclusion efforts. This was taken down after Trump's orders to ax DEI programs in both public and private sectors across America.
DEI initiatives were created to promote the fair treatment and full participation of individuals, in particular those who are from historically underrepresented or marginalized groups.
Companies such as Meta, Walmart and McDonald's have made changes to their DEI policies.
What People Are Saying
John Schwartz, speaking in a TikTok video about the boycott: "We the people have had and seen enough. So this July, we make a different kind of noise. We stop shopping with them, we stop funding the systems that don't serve us. And we shift our energy to small businesses, to local shops, to the people who actually care. Because we are the economy."
The "WeAreTHD" page on Home Depot's website reads in part: "To preserve and protect that customer experience, we focus on cultivating a compelling associate experience, which we believe supports our ability to attract and retain our associates. This includes investing in competitive wages and benefits while also providing the culture, tools, training, and development opportunities that make working at The Home Depot an enjoyable and rewarding experience."
What's Next
The Home Depot boycott is to last for the month of July, as the People's Union USA continues to spearhead boycott initiatives against major American companies.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

IMF warns tariffs aren't the answer to global imbalances
IMF warns tariffs aren't the answer to global imbalances

Yahoo

time19 minutes ago

  • Yahoo

IMF warns tariffs aren't the answer to global imbalances

By Andrea Shalal WASHINGTON (Reuters) -Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund said on Tuesday, warning that tariffs were not the answer. In its annual External Sector Report, which assesses imbalances in the 30 largest economies, the IMF noted that external surpluses or deficits were not necessarily a problem, but could cause risks if they became excessive. It said prolonged domestic imbalances, continued fiscal policy uncertainty, and escalating trade tensions could deteriorate global risk sentiment and elevate financial stress, hurting both debtor and creditor nations. The report took aim at U.S. President Donald Trump's imposition of higher import tariffs against nearly every trading partner, which his administration says is aimed at increasing revenues and righting longstanding trade deficits. "A further escalation of the trade war would have significant macroeconomic effects," it said, noting that higher tariffs would reduce global demand in the short term and add to inflationary pressures through rising import prices. Rising geopolitical tensions could also trigger shifts in the international monetary system (IMS), which in turn could undermine financial stability, it said. This year's report, based on 2024 data, showed the widening of global current account balances was due largely to increased excess balances in the world's three largest economies - the United States, China and the euro area. The deficit in the United States widened by $228 billion to $1.13 trillion or 1% of global gross domestic product (GDP), while China's surplus increased by $161 billion to $424 billion and the euro surpluses expanded by $198 billion to $461 billion. DOMESTIC SOLUTIONS In an accompanying blog, IMF chief economist Pierre-Olivier Gourinchas said excessive surpluses or deficits stemmed from domestic distortions, such as overly loose fiscal policy in deficit countries and insufficient safety nets that caused excessive precautionary savings in surplus countries. Changes aimed these domestic drivers - not tariffs - were needed, he said. That meant China should focus on boosting consumption, Europe should spend more on infrastructure and the U.S. needed to reduce large public deficits and rein in fiscal spending, he said. The report was based on data collected before approval of a massive tax cut and spending bill, which the Congressional Budget Office on Monday said would add $3.4 trillion to the U.S. deficit over 10 years, causing further pressure. "Public deficits in the United States remain excessively large and the recent broad depreciation of the Chinese yuan - together with the U.S. dollar - runs the risk of widening current account surpluses in China," he wrote. Rising tariffs had little impact on global imbalances, Gourinchas said since they tended to reduce both investment and savings in the tariffing country, leaving current account balances little changed. 'SOFTENING' US ROLE AS WORLD BANKER Uncertainty about tariffs could also undermine consumer and business confidence, increase financial market volatility and lead to persistent appreciations of the U.S. dollar, the IMF report said. However, it noted the dollar had depreciated 8% since January, its largest half-year decline since 1973. It acknowledged the continued dominance of the U.S. dollar, but said growing geoeconomic fragmentation could pose risks in the future, and recent weaker demand for U.S. Treasuries could reflect concerns about the U.S. fiscal trajectory. Increased use of China's yuan in international trade and finance, a "softening in the United States' role as world banker and insurer" and the emergence of alternative payment systems and private digital assets could eventually lead to changes in the use of international currencies. "While the risks of serious dislocation in the IMS remain moderate, rapid and sizable increases in global imbalances can generate significant negative cross-border spillovers," Gourinchas wrote in the blog. "A major risk for the global economy is that countries will instead respond to rising imbalances by further raising trade barriers, leading to increased geoeconomic fragmentation. And while the impact on global imbalances will remain limited, the harm to the global economy will be long-lasting." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

3 Money Moves the Middle Class Should Make After the Passing of Trump's ‘Big Beautiful Bill'
3 Money Moves the Middle Class Should Make After the Passing of Trump's ‘Big Beautiful Bill'

Yahoo

time19 minutes ago

  • Yahoo

3 Money Moves the Middle Class Should Make After the Passing of Trump's ‘Big Beautiful Bill'

President Donald Trump's 'Big Beautiful Bill' finally cleared the House and the Senate and was signed by the president on July 4. The bill has several policies that could impact the middle class. Making some money moves and preparing for the new changes can help you save money and grow your portfolio. Read Next: Check Out: Here are some of the top money moves the middle class should make. Also see how much the definition of middle class has changed in every state. Capitalize on Clean Energy Credits Now The bill is cycling out of energy credits, which affect electric vehicles, solar panels and other clean energy sources. Chad Gammon, CFP, owner of Custom Fit Financial, suggested making clean energy purchases before the deadline if you've been holding out. 'If you are considering any upgrades, now would be the time to do it. Some credits, such as electric vehicles, are available until September 30, 2025. Other credits, like the residential clean energy credit, will end on December 31, 2025. This can help if you anticipate higher energy bills in the years to come, and reputable installers can assist with an estimated payback period,' he said. Be Aware: Open a 'Trump Account' A 'Trump account' can give your child a head start with investing money and accumulating wealth. Gammon highlighted the promising opportunity while encouraging people to monitor how it will work before investing additional money. 'If you have a child in 2025, I'd look into opening a 'Trump account.' The federal government will give $1,000 as a starter contribution. There are options to contribute further. I'd wait for more details on that, but would set it up for the initial $1,000,' he said. Children who are born between 2025 and 2028 are eligible for a $1,000 deposit, per CNBC. The money in the account will be invested in a fund that tracks the U.S. stock market, the outlet reported. Plan Your Taxes The bill can reduce your tax burden, especially if you use the standard deduction. Gammon explained how the new bill can add more money to your wallet. 'I would also look at your estimated 2025 taxes and adjust withholdings, if needed. The standard deductions moved for [couples who are married and filing jointly] from $30,000 to $31,500, or if you are single, it went from $15,000 to $15,750. This could lower your tax liability, where you can adjust your withholdings on your W-4 and free up extra monthly cash,' he said. Seniors can also get a boosted tax deduction thanks to the bill. Seniors who are 65 or older can get an additional $6,000 tax deduction if their modified adjusted gross income is below $75,000. Married couples filing jointly can capitalize on the additional tax deduction if their combined modified adjusted gross income is below $150,000. This additional tax deduction for seniors currently applies for the tax years 2025 to 2028. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 These Cars May Seem Expensive, but They Rarely Need Repairs 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on 3 Money Moves the Middle Class Should Make After the Passing of Trump's 'Big Beautiful Bill' Sign in to access your portfolio

How much a $1,000 investment in Coca-Cola 10 years ago would be worth now
How much a $1,000 investment in Coca-Cola 10 years ago would be worth now

CNBC

time21 minutes ago

  • CNBC

How much a $1,000 investment in Coca-Cola 10 years ago would be worth now

Coca-Cola has long been considered a safe investment in a shaky economy, and in 2025, it's still holding up — even as President Donald Trump weighs in on which sweetener it should use. In a Truth Social post last week, Trump said Coca-Cola had agreed to switch from high-fructose corn syrup to cane sugar, calling it "a very good move." The company acknowledged the post and confirmed Tuesday that it will introduce a version made with cane sugar in the U.S. in the fall. Coca-Cola has used corn syrup in its U.S. sodas since the 1980s because it's cheaper and easier to source domestically than cane sugar, which is typically imported from tariff-affected countries like Mexico and Brazil. Trump's push for cane sugar is a new twist in a year of trade-related uncertainty, though Coca-Cola's stock has continued to perform well. In June, Trump doubled tariffs on imported aluminum to 50%, raising can-making costs for companies like Coca-Cola. But in April, the company had said it has "levers to manage the impact," including shifting to plastic and sourcing more aluminum domestically. While it's too soon to assess the full impact of the new tariffs, Coca-Cola's performance through mid-2025 has remained steady. The company's shares are up 13% this year, outpacing the broader market. Strong international demand, strategic pricing and a steady dividend have helped the stock remain a reliable pick in a volatile environment. Coca-Cola reported quarterly earnings Tuesday morning, with adjusted revenue coming in at $12.62 billion, topping analysts' expectations of $12.54 billion, according to LSEG. Earnings per share were 87 cents, slightly ahead of the 83-cent forecast. While the stock doesn't always outperform the S&P 500, investors view Coca-Cola as a dependable blue chip because it sells a product people keep buying, even during downturns, and it pays consistent quarterly dividends. Another advantage is that most of its soda concentrate is made in the U.S., and its regional bottlers rely on local suppliers, which helps shield the company from global supply disruptions. Here's how much a $1,000 investment in Coca-Cola would be worth today, assuming dividends were reinvested, based on the stock's closing price of $70.07 on July 21, 2025. By comparison, the total return on an S&P 500 index fund, including reinvested dividends, would have been 109% over five years, 254% over 10 years and 652% over 20 years. And while Coca Cola's stock has been a historically strong performer, financial experts commonly recommend diversifying your investments instead of putting too much money into a single stock. Low-cost index funds, which offer broad market exposure, typically provide more stability and lower fees than individual stocks.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store