Please be advised that today, Thursday, August 21, the three co-founders of the national Target boycott, along with Minnesota community members, will gather outside of Target’s corporate headquarters to address the company’s ongoing loss of revenue and customers, the early departure of CEO Brian Cornell and the announcement of his successor, Michael Fiddelke. The leadership shakeup follows months of mounting financial losses tied directly to the nationwide Target boycott launched in Minneapolis on February , of this year.
Civil Rights Leaders and Co-Founders of the National Target Boycott Respond
“Target took its most loyal customers for granted,” said Nekima Levy Armstrong, civil rights attorney, founder of the Racial Justice Network, and co-founder of the national Target boycott. “Instead of standing with communities that have supported them for decades, they chose profits over people— and it has cost them billions of dollars and millions of shoppers who have vowed not to return.”
“This movement shows the power of Black and allied consumers,” said Monique Cullars-Doty, co-founder of Black Lives Matter Minnesota and co-founder of the national Target boycott. “We’ve proven that intersectionality and our dollars matter—and we won’t be ignored.”
“Incoming Target CEO, Michael Fiddelke has an important choice,” said Jaylani Hussein, Executive Director of CAIR-Minnesota and co-founder of the national Target boycott. “He can restore public trust by reversing these harmful DEI rollbacks—or continue down the failed path of Brian Cornell. If he chooses the latter, Target risks declining to a point of no return.”
Origins of the National Target Boycott
On Monday, January 27, 2025, three civil rights leaders in Minneapolis launched a nationwide boycott of Target in response to the company’s decision to capitulate to the Trump Administration by rollback its stated commitment to Diversity, Equity, and Inclusion (DEI) initiatives.
Target is headquartered in Minneapolis, the same city where George Floyd was murdered by Minneapolis police, a flashpoint that ignited global calls for racial justice and corporate accountability. In the wake of Floyd’s death, Target publicly pledged $2.1 billion to advance racial equity—promising to support Black-owned brands, diversify its supply chain, improve the Black customer shopping experience, and improve hiring and promotion of Black employees.
However, within days of the Trump Administration taking office, Target reversed course—capitulating to right-wing pressure and abandoning those equity promises. The betrayal deepened with Target’s unprecedented $1 million donation to Donald Trump’s and J.D. Vance’s Inaugural Committee; marking the first such political contribution in the company’s history. Trump’s second stint in the Oval Office has included vicious attacks on immigrants, Black history, DEI, the trans community, and our democracy as a whole. It is almost unfathomable that a hometown company like Target would align itself with facism, racial inequality, abuse, and authoritarianism. But that is the path it chose by aligning with the Trump Administration.
Impact and Escalation
Since the February 1st call to boycott, the movement has grown exponentially. Consumers across the country began practicing “dollar diplomacy,” shifting their spending power to more inclusive competitors. This collective action reshaped corporate accountability by causing numerous companies to double down on their commitments to diversity, equity, and inclusion, rather than bow down to the Trump Administration.
Now, with the approach of a critical retail season, Target is reeling from the consequences.
Financial Fallout
Stock Performance
- On January 27, the day of the boycott launch press conference in Minneapolis, Target shares traded at $142.50.
- As of today, Target shares have plummeted to approximately $98.00, a 31% drop—representing more than $12.4 billion in lost market value.
- Target’s shares have declined 23.2% year-to-date, even before factoring in Wednesday’s pre-market reaction to the CEO announcement.
Foot Traffic and Revenue
- In Q2 2025, foot traffic at Target stores dropped 3.1% year-over-year, according to Placer.ai.
- Given the close correlation between foot traffic and revenue (avg. 1.2 percentage point variance), analysts project a YoY revenue decline of 1.8% to 4.4%.
- Target has now reported three consecutive quarters of revenue losses since the boycott began.
RJ Hottovy of Placer.ai noted, “Foot traffic and revenues are generally pretty highly correlated,” reinforcing the link between lost shoppers and financial decline.
What’s at Stake
As Target enters one of the most important shopping seasons of the year, it does so with fractured community trust and a shrinking customer base. Many former shoppers have vowed not to ever return to its stores. With over 1,900 stores nationwide, the cost of ignoring consumer demands for a return to its focus on diversity, equity, and inclusion could be catastrophic.
The choice now lies with new leadership: Reverse course and work to rebuild trust—or stay on a path that may lead to long-term decline.
