Latest news with #Belonging
Miami Herald
24-06-2025
- Business
- Miami Herald
Target announces generous offers to win back customers
Target (TGT) has had a rough year, and it is scrambling to pick up the pieces after it recently noticed a disappointing change in customer behavior. In its first-quarter earnings report for 2025, Target revealed that while its comparable digital sales increased by 4.7% year-over-year, its comparable store sales dipped by 3.8% during the quarter. Don't miss the move: Subscribe to TheStreet's free daily newsletter The recent decrease in comparable store sales comes after Target faced boycott calls from consumers earlier this year, in response to it scaling back its diversity, equity, and inclusion initiatives. It also comes during a time when many consumers are battling inflation and a higher cost of living. Related: Target struggles to reverse alarming customer trend amid boycotts Amid recent challenges, Target's foot traffic tumbled. According to recent data from the number of customers visiting Target stores per location declined by 4.8% year-over-year during the quarter. During an earnings call last month, Target CEO Brian Cornell said the company is "not satisfied" with its recent performance and highlighted that it is operating in an "exceptionally challenging environment." "For several years now, we've seen pressure in our discretionary businesses, as spending adjusted down from elevated levels during the pandemic and then moved further away in the face of historically high inflation in needs-based categories," said Cornell. "On top of those ongoing challenges, we faced several additional headwinds this quarter, including five consecutive months of declining consumer confidence, uncertainty regarding the impact of potential tariffs, and the reaction to the updates we shared on Belonging in January." Image source: Universal Images Group via Getty Images As Target struggles to boost its sales, it has made a major move to win back customers during a bustling time of the year. The retail giant has announced that it will make back-to-school shopping "more affordable" for consumers by "maintaining last year's prices on must-have supplies" as inflation and tariffs raise prices across the country, according to a new press release. In addition to dodging price increases, over 1,000 back-to-school items at Target will be under $5. The retailer is also offering shoppers 20 essential school supplies, such as "crayons, colored pencils, notebooks, folders," etc., that add up to less than $20. First-day-of-school outfits will even start at $5, with teacher essentials starting at $3.50. Related: Target CEO admits a major mistake amid boycotts from customers Target also said that most essentials for college students, such as storage, bedding and apparel, will be priced under $40. "This is such an important time for everyone preparing to head back to class - or heading off to school for the first time," said Target Chief Commercial Officer Rick Gomez in the press release. "The Target team will be there for families by holding last year's prices on key school supplies and standing tall for unrivaled style, quality, and exceptional value." Target is also giving Target Circle members early access to back-to-school discounts and is launching new deals for students and teachers. Target Circle members will be able to access "major deals on back-to-school and college essentials" between July 6 and July 12. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersAT&T makes generous offer to older customers Starting June 29, college students can even receive a 20% off storewide discount with Target Circle. Teachers can also receive 20% off storewide, but between July 20 and Aug. 30. Teachers and students can also get 50% off a one-year Target Circle 360 membership through Sept. 13. The move from Target comes when many consumers are making drastic changes to their shopping habits due to concerns about tariffs and the state of the economy. According to a new survey from market research company Numerator, 88% of consumers are concerned about the impact of tariffs, while 64% are worried that tariffs will raise prices on everyday goods. Also, 81% of consumers are adjusting their finances or shopping habits in response to tariffs, which includes delaying nonessential or expensive purchases, buying fewer imported goods, looking for sales and coupons, and switching to lower-priced retailers and discount stores. Related: Target faces another massive boycott from customers The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
13-06-2025
- Business
- Miami Herald
Target struggles to reverse alarming customer trend amid boycotts
It is no secret that Target (TGT) has faced challenges ever since it decided to scale back a major yearslong commitment it made to its employees and customers. In January, the retail giant revealed that it will discontinue several of its diversity, equity, and inclusion initiatives, including advancing the careers of Black employees, implementing anti-racism training for staff members, promoting Black-owned businesses, and sourcing products from Black suppliers. Don't miss the move: Subscribe to TheStreet's free daily newsletter It also withdrew its participation in the Human Rights Campaign survey, which tracks LGBTQ+ corporate policies and practices, and discontinued its three-year DEI goals. Related: Target faces another massive boycott from customers The move from Target sparked outrage from consumers, and soon after, boycotts erupted. During the first quarter of 2025, the number of customers visiting Target stores per location declined by 4.8% year-over-year, according to recent data from Target also revealed in its latest earnings report that while its comparable digital sales increased by 4.7% year-over-year, its comparable store sales decreased by 3.8% during the quarter. During an earnings call last month, Target CEO Brian Cornell said that the company is "not satisfied" with its recent performance and emphasized that it is operating in an "exceptionally challenging environment" that has harmed foot traffic and sales. "We faced several additional headwinds this quarter, including five consecutive months of declining consumer confidence, uncertainty regarding the impact of potential tariffs, and the reaction to the updates we shared on Belonging in January," said Cornell during the call. Image source: Universal Images Group via Getty Images Now, for the fourth consecutive month this year, Target's foot traffic in its store declined by 1.6% year-over-year in May, according to new data shared with TheStreet. This comes after its foot traffic shrank by 9% in February, 6.5% in March, and 3.3% in April. Target lagged behind competitors such as Walmart, Costco, and Best Buy, which all experienced increased traffic in their stores in May. This decline comes during a time when Target's reputational scores also recently took a hit, according to data from Reputation analytics firm Caliber, which Retail Brew obtained. Related: Target CEO admits a major mistake amid boycotts from customers Between January and May, Target's Integrity Score, which is based on the proportion of consumers Caliber surveyed agree with the statement "Target behaves responsibly," fell from 65 to 58. The retail giant's Leadership Score, based on the degree to which customers agreed with the statement "Target demonstrates leadership," also declined from 65 to 58. The number of consumers who agreed with the statement that they "would recommend Target to others, if given the chance" also caused Target's Recommendation Rate to dip by 24.5% between January and May. "This is concerning," Caliber CEO Shahar Silbershatz told Retail Brew. "There is a negative trend here. This is going to continue to snowball, and it's a problem." Target's CEO has recently been laser-focused on winning back customers. During the earnings call last month, Cornell said that Target will open a new Enterprise Acceleration Office, which will focus on simplifying the company's operations. In addition, Target will make organizational changes to "bring even more clarity and speed" to its business practices and strategy advancement. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior He also said that Target has been working "tirelessly" to prevent potential tariff-related price increases in its stores, which threaten to scare away frugal customers. "As a company that aims to deliver great products and outstanding value, we're focused on supporting American families as they manage their budgets," said Cornell. "We have many levers to use in mitigating the impact of tariffs, and price is the very last resort." Some of those levers include negotiating with vendor partners, reevaluating assortment decisions, changing country of production, and adjusting order timing. Related: Target CEO sounds alarm on customer behavior The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
11-06-2025
- Politics
- Yahoo
‘We're living in the dumbest timeline' — Gov. Cox comments on SLC Sego pride flags
SALT LAKE CITY (ABC4) — Governor Cox commented on Salt Lake City's Sego pride flags in his monthly press conference Tuesday, calling them and the Utah law that banned pride and other unofficial flags 'dumb.' Governor Cox was asked if he supported the official flags that Salt Lake City adopted in response to Utah , the law that from being displayed on government property and at public schools. Previously, Cox called H.B. 77 the . Cox allowed the law to go into effect without his signature, and he did not veto the bill because it passed with a veto-proof majority. 'I don't support [the bill]. They're dumb flags, and it was a dumb bill,' Cox said. He clarified that he was referring to the Sego pride flags in Salt Lake City. Gov. Cox's pick to head new state records office gets OK from Senate panel despite criticism In response to H.B. 77, Salt Lake City adopted pride and Juneteenth designs as official flags for the city in . These flags allow the city to circumvent the law banning pride flags and other unofficial flags because they are now official city flags. The Sego Celebration, Belonging, and Visibility flags are meant to honor Juneteenth and Black and African American residents, LGBTQIA residents, and transgender residents respectively. 'It's ridiculous. I feel bad for the Japanese Americans. I feel bad for the Polynesian Americans… I mean, who are we leaving out here?' Cox said. 'I'm sure they [Salt Lake City Council] feel great that they got around this dumb law, and they did it with dumb flags. The whole thing's dumb.' Cox offered his thoughts on what both the state and cities should do instead of squabbling over pride flags. 'We should raise the American flag, and let's unify around that. It's a great flag, represents everyone, and the legislature doesn't need to be in everybody's business all the time,' he said. 'We're living in the dumbest timeline right now, that's all I can say,' Cox concluded. RSL hoping to make a run in second half of season Utah lawmakers oppose AI regulation in Trump's 'Big, beautiful bill' 'Somebody has to stop it:' Gov. Cox defends Trump's decision to deploy troops to LA 'We're living in the dumbest timeline' — Gov. Cox comments on SLC Sego pride flags Calif. governor asks court to block Trump administration from using troops in immigration raids Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
26-05-2025
- Entertainment
- Yahoo
'Strangers in the Land' explores the history of anti-Asian racism in the U.S.
Author Michael Luo joins Morning Joe to discuss his new book 'Strangers in the Land: Exclusion, Belonging, and the Epic Story of the Chinese in America'.
Business Insider
22-05-2025
- Business
- Business Insider
The Target boycott movement appears to be making a mark. More protests are around the corner.
Target is having little success in convincing shoppers of its stance on DEI. CEO Brian Cornell said Wednesday that public response to changes to its DEI programs — now known as "Belonging" — adversely impacted first-quarter sales, although an exact amount was not quantifiable. "We faced several additional headwinds this quarter, including five consecutive months of declining consumer confidence, uncertainty regarding the impact of potential tariffs, and the reaction to the updates we shared on Belonging in January," he said. The financial results follow weeks of declining foot traffic and sales, punctuated by seasonal holiday bumps during the period. But shifting positions on DEI issues don't appear to doing Target any favors, Global Data retail analyst Neil Saunders said in a note. "The extent of this should not be overstated as many other factors are driving down Target's sales numbers, but the move has certainly not been helpful," he said. A Target spokesperson said in a statement to Business Insider that the company is "absolutely dedicated to fostering inclusivity for everyone — our team members, our guests and our supply partners." "To do that, we're focusing on what we do best: providing the best retail experience for the more than 2,000 communities we're proud to serve," the spokesperson said. While some supporters of DEI have claimed partial victory in their pressure campaign, leaders including pastor Jamal-Harrison Bryant say they're not yet satisfied with the company's response. Bryant said his church would hold a protest in front of an Atlanta-area Target on Sunday, May 25, to mark the fifth anniversary of the murder of George Floyd in Target's hometown of Minneapolis. "We're gonna do it for nine minutes and 40 seconds as the same amount of time they applied pressure to George Floyd that led to his death," Bryant said in a video inviting other churches to join. Target expanded several diversity initiatives in the immediate aftermath of Floyd's murder, and CEO Brian Cornell said the incident highlighted that more work was needed. "It happened only blocks from our headquarters," Cornell told the Economic Club of Chicago a year after Floyd's death. "My first reaction watching on TV was that could have been one of my Target team members." At the time, Target committed to spending more than $2 billion on Black-owned businesses by 2025 by purchasing goods from more than 500 Black-owned businesses and contracting with Black-owned services from marketing to construction. "As CEOs we have to be the company's head of diversity and inclusion," Cornell told the Economic Club of Chicago. "We've got to make sure that we represent our company principles, our values, our company purpose on the issues that are important to our teams." Four years later, Target's message on DEI is less clear. In January, the company said it was rolling back several diversity initiatives, renaming others, and not renewing the spending and sourcing goals it set in 2021. (Target's spokesperson told BI the announcement did not affect existing brand or supplier relationships, and that the company still recruits from a range of schools, including HBCUs.) Target also for the first time donated $1 million to President Donald Trump's inauguration fund, filings showed, even as Trump was gearing up executive orders to strip DEI programs from federal agencies and contractors. Tech giants Google, Meta, and Uber also each donated the same amount. In addition, the company has drastically shrunk its annual LGBTQ Pride collection in recent years, and now offers a small fraction of what it showcased a two years ago. In a note to employees earlier this month, Cornell acknowledged that "silence from us has created uncertainty," and the executive has reportedly met with Bryant and Reverend Al Sharpton to discuss a path forward. Beyond the protests, Saunders said Target continues to face a myriad of other challenges, including still-high tariffs on imports, growing competitive pressures from rivals, and a host of other operational difficulties. "This year will be another soft one and Target enters it in a relatively weak position," he said.
