Target, DEI and Sales
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The retail giant Target continues to wander in troubled territory. In an earnings call today, CEO Brian Cornell told investors that the company has suffered declines in sales, partly because consumers are spending less on discretionary goods amid uncertainty over tariffs,
Target said reaction to the rollback of its diversity, equity and inclusion efforts was a headwind in the first quarter.
Target Corp., facing financial headwinds and pushback over its diversity, equity, and inclusion initiatives, has dismissed two executives who have backed DEI efforts, including a chief legal and compliance officer it hired nine months ago.
A boycott launched by Target shoppers unhappy with its DEI retreat has added to the retailer's sales headaches, prompting CEO Brian Cornell to announce sweeping changes Wednesday.
Target will report its fiscal first-quarter earnings Wednesday, as the Minneapolis-based cheap chic retailer tries to get back to growth. Here's what Wall Street is expecting for the discounter, according to a survey of analysts by LSEG:
The company cut its guidance for sales and earnings and now expects a low, single-digit decline in sales, down from a previous growth projection of 1 percent, and GAAP earnings-per-share of $8 to $10, down from its previous guidance of $8.80 to $9.80.
and the reaction to the updates we shared on [DEI] in January,” Target CEO Brian Cornell told analysts on an earnings calls. “I want to be clear that we’re not satisfied with these results, ...