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The Independent
14-05-2025
- Business
- The Independent
Home Depot facing customer boycott after quietly rolling back DEI policy
Home Depot has enraged its customers, sparking calls for a boycott, after it decided to quietly axe a section of its website championing the company's diversity, equity, and inclusion efforts. The recently removed DEI page, which was live on the site as of March, read: 'We strive to ensure that our company culture maintains a diverse, equitable and inclusive environment so that we can attract and retain the best employees, amplify their unique experiences and ideas, and strengthen the communities where we operate.' The move follows President Donald Trump 's orders to axe DEI programs in the private and public sectors across the nation. While supporters have celebrated Trump's orders, they have been criticized by advocacy groups who say they might deepen inequities and undo decades of progress made to enshrine civil rights protections for marginalized groups. Since then, Home Depot has replaced its DEI page with a 'WeAreTHD' page that omits any mention of 'diversity, equity, and inclusion,' reports Retail Brew. In a statement to Retail Brew, spokesperson Sarah McDonald said: 'We're proud to have a culture that welcomes everyone, and we believe it helps us achieve our business goals.' 'We've been using 'WeAreTHD,' which is a slogan that represents the welcoming culture we've built here. We remain committed to our core values and the needs of our business, empowering associates, driving innovation, and enriching our communities,' she continued. Customers took to social media to vocalize their frustrations at the hardware store, with Blue Sky user, Greg Morosoff writing: 'Well, look at that. Home Depot seems to have done away with DEI also. They say some corporo babble, but, nothing about DEI. Another reason to boycott everything publicly traded, like, Home Depot.' Another, Lorie Kellogg, said, 'Well, we all know that [home improvement competitor] Lowe's is a blue company and Home Depot's a red company, so here we go.' Equally, a user who claimed to be an employee praised the company, saying it was 'a really great place to work' and that 'there's an entire app on the phones we're given to work around the store with that takes you to a browser page describing what DEI means and what DEI benefits Home Depot offers and supports, and that stuff'a important to me.' Trump supporters praised the move on X, with one user stating: 'Thank you for dropping #DEI. It was preposterous to have a DEI policy! Home Depot knows its customers should not have ever pushed for inclusion. Thank You Home Depot, for waking up.' The store has followed in the footsteps of other American businesses, like Target, which announced it would be rolling back DEI in late January. In March, a 40-day boycott was proposed against the big-box chain.
Axios
01-05-2025
- Business
- Axios
Stephen Miller: Most Americans would pay more for U.S.-made dolls
The doll debate continues: After President Trump acknowledged that toy shortages were a possible tariff side effect, Deputy Chief of Staff Stephen Miller argued that "almost every American consumer" agrees they'd pay more for an American-made doll. The big picture: Miller on Thursday emphasized the administration's persistent argument that tariffs would force manufacturers to produce more goods in the U.S. — but domestic retailers fear the trade war with China will leave prices higher and shelves empty. Driving the news: Asked about the president's acknowledgement that dolls might cost more under the trade war with China, Miller contended that Trump was making the point that most American consumers would choose an American-made toy over a Chinese-manufactured one. Presented with "the doll from China that might have ... lead paint in it that is not as well-constructed" and "a doll made in America that has a higher environmental and regulatory standard and that is made to a higher degree of quality," he said, "you probably would be willing to pay more for a better-made American product." But he added that tax and regulation cuts means it "will be cheaper than ever to make and manufacture in America." Catch up quick: Miller's and Trump's comments come among concerns the 2025 holiday shopping season will be significantly disrupted as imports are expected to plunge and prices are primed to rise. Trump, speaking to reporters Wednesday, acknowledged that " Somebody said, 'oh, the shelves are gonna be open.'" He continued, "Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more." Treasury Secretary Scott Bessent echoed that sentiment in March, saying that "access to cheap goods is not the essence of the American dream." Factories in China produce nearly 80% of all toys sold in the U.S., per the New York Times. The American-made divide By the numbers: Polls suggest that there are divides in consumer sentiment regarding where a product is made. According to polling earlier this year from the Ipsos Consumer Tracker, a majority (56%) do say they like buying American, even if it costs more — but Republicans are around twice as likely to agree with that statement as Democrats. Around 64% of respondents said they agreed American-made products were better quality. A 2022 survey from Retail Brew and The Harris Poll of 1,986 US adults found that nearly half (48%) said they'd be willing to pay around 10%–20% more for an American-made good. 17% said they'd be willing to pay around 30% more. Afina, a company that makes shower heads, recently put the choice to the test. They offered a secret landing page with two identical products, one labeled "Made in Asia" for $129, and another that was "Made in the USA" priced at $239. Forbes notes that the higher price was based on a manufacturing cost three times as high in the U.S. as it is in China and Vietnam. In the end, while site visitors added two dozen USA-made products to their cart, there were no final purchases. There were, however, over 580 purchases of the Asian-made product. What we're watching: The administration recently signaled a softer stance on China, as CEOs privately warned him his trade policy could disrupt supply chains and raise prices. "We're doing very well with respect to a potential trade deal with China," White House press secretary Karoline Leavitt told reporters last week. Miller on Thursday, asked about the end goal of the levies on China, said Bessent is "in the process of developing a plan that will answer" such questions. But he added, "Tariffs will bring significant revenue into this country that will allow us to pursue our dramatic plan of tax cuts and reforms."
Yahoo
20-04-2025
- Business
- Yahoo
Target's Store Traffic Is Falling — Should Investors Be Concerned?
Target (TGT) has seen its foot traffic and stock price fall this year due to a variety of factors. Read Next: Find Out: Do these drops spell bad news for the company and its stock? Given the falling foot traffic, some investors may be wondering whether they should be concerned about the stock. On Jan. 24, 2025, Target released a fact sheet detailing its Belonging at the Bullseye Strategy. In it, the company announced it'd be concluding its three-year diversity, equity and inclusion goals as well as its Racial Equity Action and Change (REACH) initiatives. It said it'd also continue to provide employee resource groups that are open to everyone, evaluate corporate partnerships, stop external diversity-focused surveys and turn its 'Supplier Diversity' team to 'Supplier Engagement' as a way to reflect its inclusive global procurement process. The week following this announcement, Target saw its foot traffic drop 4% year over year, Retail Brew reported. The following weeks also saw decreases in foot traffic from the previous year. This was in contrast to the numbers preceding the announcement, in which foot traffic had been up 5% to 11.8% for the first four weeks of the year. This decrease in foot traffic may leave some investors wondering whether they should be concerned about Target's performance and its stock. Be Aware: A zoomed out view of Target stock shows that it's down more than 33% for the year, as of April 17. And the stock has fallen significantly over the past year, down more than 44%. And that could be telling of more trouble for the brand. 'From an investor's point of view, it's not just the stock falling from $143 to around $90. It's the lawsuits, the bad press, the perception that the brand is either confused or reactive. That stuff adds up,' said David Kindness, CPA, a personal finance writer at Best Money. The answer to whether or not investors should be concerned comes down to risk tolerance. At the moment, the stock market is down in general following President Donald Trump's tariff announcement. Peter Tran, CPA, a tax and personal finance expert with A&C Accounting and Tax Services, said that as an accountant, he sees the numbers behind the stories. '[Its numbers are] telling me that Target's financials could be squeezed if this goes on too long. They've already reported a 3.1% loss for Q4, and the continued drop in foot traffic doesn't bode well for maintaining healthy revenue streams,' he said. Because of these headwinds, investors should proceed with caution. 'Given all this, it makes sense for investors to watch closely, hoping for signs of a rebound but also staying realistic about the potential challenges in winning over a disappointed customer base,' Tran said. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early 4 Affordable Car Brands You Won't Regret Buying in 2025 5 Types of Vehicles Retirees Should Stay Away From Buying This article originally appeared on Target's Store Traffic Is Falling — Should Investors Be Concerned?
Yahoo
17-04-2025
- Business
- Yahoo
Target boycott: Atlanta pastor plans 2nd phase after 40-day 'fast'
The Brief Atlanta's Rev. Jamal Bryant is planning to announce the next phase of his Target boycott over the chain's rollback of its DEI policies. Bryant called for a Target "fast" for Lent to show the company the impact of Black consumers. Data shows that foot traffic has dropped in Target stores for the last 10 consecutive weeks. ATLANTA - The planned 40 days of Rev. Jamal Bryant's Target boycott are nearly over, but the Atlanta religious leader says the pressure on the big box chain isn't ending anytime soon. The New Birth Missionary Baptist Church pastor says he plans to announce the next phase on Easter Sunday. The backstory On Jan. 24, Target announced that it would be ending a program it established to help Black employees build meaningful careers, improve the experience of Black shoppers, and promote Black-owned businesses following the police killing of George Floyd in 2020. Target, which operates nearly 2,000 stores nationwide and employs more than 400,000 people, said it already had planned to end the racial program this year. The company said Friday that it would also conclude the diversity, equity and inclusion, or DEI, goals it previously set in three-year cycles. In response, Bryant took to the pulpit to urge his congregants to boycott the corporation during Lent to show the company the impact of Black consumers. Calling the action a "fast," Bryant asked participants to sell shares of Target's stock and not shop at its stores. "I want the stock to go down because we are standing in righteous indignation against racism and sexism in this nation," he said. "We are going to break the spirit of white entitlement. We are going to break the spirit of racism and sexism." By the numbers According to Retail Brew, Target's stock dropped to a four-year low this month, and the company has reported decreased foot traffic in its stores. Data from analytics firm showed that Target's foot traffic has dropped for 10 consecutive weeks, the outlet reported. What they're saying Writing on Facebook on Wednesday, Bryant said that nearly 200,000 people had signed up to take part in the fast. "They've lost billions, stock has dropped, foot traffic is silent and @target still hasn't budged," Bryant wrote. What's next New Birth Missionary Baptist Church is hosting a Bullseye Black Market, a marketplace spotlighting more than 100 Black entrepreneurs, over the weekend. Church officials say that some of the vendors at the event either have or previously had a retail presence in Target stores. U.S. Congressman Hank Johnson and DeKalb County CEO Lorraine Cochran-Johnson will join Bryant and first lady Dr. Karri Bryant to open the marketplace. The church is expected to release a public report on the movement's economic impact in the upcoming weeks. Meanwhile, Target reportedly has reached out to the Rev. Al Sharpton to meet this week in New York, CNBC reports. The Source Information for this story came from reports by CNBC and Retail Brew, as well as social media posts and release by Rev. Jamal Bryant and New Birth Missionary Baptist Church.
