27-05-2025
Target Blames Tariffs, Response To DEI Rollback For Lower Sales
This is a published version of Forbes' Careers Newsletter. Click here to subscribe and get it in your inbox every Tuesday.
Target sales and revenue slumped in the first quarter of the year thanks to tariff costs, lower ... More discretionary spending and consumer boycotts over DEI rollbacks.
Retail giant Target reported its first-quarter earnings last week, which showed sales and revenue numbers falling well below expectations as the company also warned that its yearly sales will likely decline in 2025. The retailer says that uncertainty over tariffs and boycotts stemming from its rollback of diversity, equity and inclusion programs are to blame for the lower financial numbers.
Target's financials have been closely watched by more than just those in the retail sector. The company was one of the first major public businesses to 'phase out' DEI initiatives in January, cutting internal diversity metrics, programs for minority suppliers and corporate sponsorships.
A massive consumer boycott soon followed. The Rev. Jamal Bryant, a prominent Atlanta pastor, called for a nationwide fast on purchases from the retailer for Lent. After meeting with Target CEO Brian Cornell in April, the two could not come to a resolution to the boycott.
And there are signs that the anti-Target sentiment will continue. Bryant called for another boycott on Sunday, the fifth anniversary of George Floyd's murder, which sparked a number of protests around the country in 2020 and led many companies to increase their DEI programs at the time.
Target's financial hit is perhaps a sign to other companies of the potential impacts of rolling back DEI measures. But Target also faces softer spending on all discretionary items and a decline in consumer confidence, so multiple issues are at play for the retail giant.
Happy reading, and hope you have a lovely unofficial start of summer!
Practical insights and advice from Forbes staff and contributors to help you succeed in your job, accelerate your career and lead smarter.
Learning to manage stress early on in your career is critical to your growth.
Here are the five times that leaving a job without another one lined up makes sense.
Using AI tools for interview prep can be helpful, but try not to sound too much like a robot.
From sage advice from Kermit the Frog to plagiarized speeches, graduation season often brings along a load of questionably-solicited career advice. Forbes sifted through the speeches of this year's most celebrated speakers to pick out the best bits of wisdom. A short excerpt of the top pieces of advice is below, and you can read our full roundup here.
It's been a tough year for higher education. Between a crackdown of student protests and rollbacks in funding, administrators and students are wary and weary. So it's no surprise this year's commencement advice felt tamer.
Yes, there was some controversy, as student speakers voiced their disapproval with their universities' stances on the war in Gaza. And one commencement speaker—musician Evelyn Harris at Smith College—relinquished her honorary degree after admitting that parts of her speech were plagiarized.
But most speakers stuck to offering useful life and career advice to the class of 2025. Some touted the advantages of youth, but a lot the advice works for Gen Z's elders, too.
Take Philadelphia Eagles' wide receiver A.J. Brown's message to Ole Miss graduates: 'Success isn't owned, it's rented.' It can feel wonderful to be at the top of the mountain of your career, but sustaining that success requires constant work on yourself. 'Watch your own film,' he said, because 'self-awareness is a leadership skill.'
Or listen to Martina Cheung, president and CEO of S&P Global, who told George Mason's graduates to collect experiences over promotions. Many graduates are entering a competitive job market, tinted with the fear of AI replacing positions and a potential career slowdown during tough economic times. But Cheung says to not let those fears stop you from growing. 'If something is interesting, go for it,' she said. 'Don't worry as much about the prestige. If it captures your attention, it's going to get you where you want to go faster.'
News from the world of work.
Big investment bets and strong personal friendships led newcomers on this year's Midas List toward the top of the ranking, Stephen Pastis reports. Newcomers to Forbes' Midas List, which in collaboration with TrueBridge Capital Partners ranks the top venture capitalists in the world, include Chime early backer Larry Li, investor and former applied scientist Ilya Fushman, and Laude Ventures' Pete Sonsini.
Steph Curry, Trae Young and other professional athletes are going back to school to recruit talent for their alma mater's teams. Four years after the NCAA first allowed its athletes to profit off their name, image and likeness, college sports teams are now hiring their former all-stars as assistant general managers to bring in new recruits, Forbes' Justin Birnbaum reports.
Americans' earnings stalled in the past year, according to a JPMorgan Chase study. Adjusted for inflation, American workers across age and income groups saw their after-tax take-home pay grow more slowly than the economy as a whole since 2019.
Meta is bleeding AI talent: According to a Business Insider report, 11 out of 14 researchers from the original Llama AI team have left for competitors. This comes at a time when the tech company appears to be ramping up its defense hiring.
The Supreme Court ruled last week that President Trump doesn't have to rehire senior officials at two federal labor agencies—the National Labor Relations Board and the Merit Systems Protection Board. It's been a busy week for the president in court, with a federal judge blocking the administration's ban on international students at Harvard, and the Supreme Court halting the release of DOGE records, at least temporarily.
You Don't Need A Degree To Start A Company
Which of these career moves should you make to prepare for the next recession?
A. Make yourself more visible at work
B. Pre-emptively start looking for another job
C. Check your company's priorities
D. All of the above
Check if you got it right here.
