Latest news with #economicblackout
Yahoo
09-08-2025
- Business
- Yahoo
Economic blackout is today. What to know about new boycott of Walmart, Lowes, McDonald's
A new one-day economic blackout is happening today. Organizers are asking people to stop all spending, call out of work or close their own businesses to lock up the country's finances on Saturday, Aug. 9. "You might think one day doesn't make a difference. It does. It makes a difference financially when millions stop spending. It makes a difference socially when the nation starts paying attention, and it makes a difference civilly when the people unite and say 'No more,'" John Schwarz, who launched the organization, said in an Aug. 8 social media video. The People's Union USA is also leading a nationwide consumer boycott of Walmart, Lowes and McDonald's. They're asking people to skip spending money with the major brands all of August. They also plan to boycott Amazon, Uber and Pepsi Co. in September. Do the boycotts work? It's complicated. Some retail chains, like Target, have seen a spending dip. And social media trends can affect social perception of the brands in ways that aren't easy to measure. A Lending Tree survey of 2,000 people published earlier this summer showed that of 31% had boycotted a business, and about 23% had supported one because it was being boycotted. Here's what you need to know about the one-day economic blackout, ongoing August boycotts, and additional protests that are coming up. Why are people boycotting stores in 2025? In January, President Donald Trump announced the rollback of federal diversity, equity and inclusion (DEI) programs. He's said he wants the country's culture as a whole to shift away from "woke" mindsets and his administration, as promised, to cut federal funds from schools and universities that don't also scrap DEI. Some major brands cut equity and inclusion efforts late last year, and others made the move in 2025. Several groups have organized different nationwide protests since February. Some focus on larger, longer protests that target a single brand at a time. Many, but not all, of the large-scale boycotts are efforts to pressure companies into bringing back DEI initiatives. The major boycotts started with a nationwide 24-hour economic blackout of major corporations on Feb. 28. A 40-day spending fast at Target ended April 17. Economic Blackout 2.0 lasted three days in April, and another total freeze was on July Fourth. Smaller spending freezes focusing on Target, Walmart, Nestlé and General Mills are complete. For example, Jamal-Harrison Bryant, senior pastor of New Birth Missionary Baptist Church in Stonecrest, Georgia, organized a 40-day Target shopping freeze that mirrored Lent. The goal was to get the brand to reinstate DEI initiative. It's since been extended into a permanent boycott. Target's foot traffic, tracked by was down year-over-year for at least 11 consecutive weeks after the company dropped its DEI policies. It also saw a drop in Mississippi for February, March, April, May and June. The People's Union says ensuring companies serve communities with equal opportunity hiring policies and DEI is a major goal. The group also wants to end national income taxes and for the government to establish a profit cap for corporations. "We have real demands, and we are not backing down from any of them," Schwarz said in a social media video. More: Despite Trump backlash, DEI rollbacks are slowing. Here's why. What to know about the Aug. 9 economic blackout The People's Union plans a third large-scale economic blackout on Aug. 9 with no spending at big box stores. Schwarz said people should protest at state capitols and town hall buildings. He encourages people to have a full-day spending freeze in stores and apps. He wants people to protest in mass numbers. He said the day will make a statement against "genocide in Gaza," "the buried Epstein files," ICE raids "tearing families apart," and other Trump administration policies. "Let the money stop moving for one single day. Shut your business down. Take the day off. Call in sick. Whatever you've got to do, do it," Schwarz said in a previous Instagram video. What to know about boycotts happening now, next month In August, the People's Union is boycotting Walmart, Lowes and McDonald's. In September, the People's Union will boycott Amazon, Uber and Pepsi Co. In July, he advised people to shop at locally owned stores while avoiding the major chains. Bonnie Bolden is the Deep South Connect reporter for Mississippi with Gannett/USA Today. Email her at bbolden@ This article originally appeared on Mississippi Clarion Ledger: US economic blackout is today. What to know about new August boycotts Solve the daily Crossword
Yahoo
03-07-2025
- Business
- Yahoo
The McDonald's Boycott Every Investor Needs to Know About
President Donald Trump rode various waves of sentiment to return him to the Oval Office. One of the key areas of contention that got him re-elected was his attack on diversity, equity and inclusion (DEI) initiatives. Soon after his return, Trump swiftly acted to undo many DEI programs in federal agencies. Many companies followed suit, rolling back or eliminating their respective programs. Discover More: Read Next: Consumer sentiment has been balanced, but those upset by actions taken by corporate America have made themselves heard by imposing economic blackouts on firms. McDonald's is the latest company drawing the ire of upset Americans and their stock prices are reflecting that. Here's what investors should know. McDonald's was one of the first companies to roll back its DEI initiatives. 'We are retiring setting aspirational representation goals and instead keeping our focus on continuing to embed inclusion practices that grow our business into our everyday process and operations,' said McDonald's in a letter to its restaurant owners and operators in early January. The company announced numerous other changes to its DEI programs in the letter. Those moves didn't go unnoticed by The People's Union, a grassroots group that supports DEI and corporate responsibility. The group called for a boycott of McDonald's from June 24 to 30. Besides pausing DEI initiatives, the boycott of McDonald's was due to its perceived price gouging, use of tax loopholes, exploitation of workers, corporate greed and political corruption, according to a recent Instagram post. It's arguable whether or not economic blackouts work. However, the boycott of McDonald's couldn't come at a worse time for the company. The fast food chain saw U.S. sales decrease by 3.6% in the first quarter of 2025, making it the worst quarter since the second quarter of 2020. McDonald's serves 26 million customers in the United States daily. That's enough volume to withstand some slumps but given that it has seen same-store sales fall for two consecutive quarters, following it up with another quarter of losses won't look good. McDonald's isn't the only corporation to face economic blackouts. Firms that have faced similar backlashes include Amazon, Target and Walmart. Some faced a one-day boycott on February 28, whereas others faced extended boycotts. Amazon, for one, actually saw an increase in sales on its one-day boycott, according to Newsweek. Similarly, Costco experienced an impressive 22% increase in web traffic on February 28, thanks to its commitment to keeping DEI initiatives. Walmart saw a slight decrease, but Target fared significantly worse. The company faced a 40-day boycott due to rolling back DEI initiatives, and the retailer conceded sales were impacted by the action, according to CNN. Net sales decreased by 2.8% in the first quarter of 2025 versus the same period in 2024. It's debatable whether boycotts work, but the repercussions can vary widely. It won't be clear how McDonald's boycott led by The People's Union will impact sales until it reports its next earnings. Given how the restaurant has fared in recent quarters, investors may need to brace for further lagging sales. More From GOBankingRates 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on The McDonald's Boycott Every Investor Needs to Know About
CTV News
24-06-2025
- Business
- CTV News
The ‘economic blackout' movement now wants you to boycott McDonald's, starting today
A grassroots movement is calling on the boycott of McDonald's for the next week. (Charly Triballeau/AFP/Getty Images via CNN Newsource) NEW YORK — McDonald's is the latest target of a grassroots 'economic blackout' campaign that has previously targeted other major companies with mixed success. The People's Union USA, led by John Schwarz, is now calling on people to boycott McDonald's beginning Tuesday through next Monday, explaining in an Instagram post that he's demanding 'fair taxes, an end to price gouging, real equality, and corporate accountability.' 'This is a show of strength, solidarity and people powered change,' Schwarz wrote. 'Let them feel it. Let them hear us.' McDonald's did not immediately respond to comment about the boycott. Boycotts are notoriously difficult to organize, and it's not clear that the effort will make a dent in McDonald's bottom line. Nevertheless, the spotlight is shining on McDonald's at a less than ideal time for the company, which recently reported its second consecutive quarter of sales declines. Customers, especially in low- and middle-income brackets, have pulled back their spending amid economic uncertainty. McDonald's has faced backlash from some customers about its prices. The value perception of the chain has dimmed among its cash-conscious customers: The average price of items has soared about 40 per cent since 2019. The company says this is in line with its rising costs. Schwarz didn't immediately respond for comment. His website calls the group 'a grassroots movement dedicated to economic resistance, government accountability, and corporate reform,' adding that the 'goal is to unite Americans against the corruption and greed that has kept us struggling for decades.' Boycott background Schwarz garnered national attention earlier this year when his group called for an 'economic boycott' on Walmart, Target and Amazon for various reasons, including the roll-back of diversity, equality and inclusion (DEI) programs. In January, McDonald's ended some of its its specific diversity goals, including requiring its suppliers to commit to certain DEI targets. The chain also stopped participating in external surveys that measure corporate diversity, as well as changed the name of its diversity team to the Global Inclusion Team — a common practice for many other companies that have rolled back diversity pledges. Companies have changed their views on DEI following the reelection of U.S. President Donald Trump, who opposes the efforts, and a Supreme Court ruling against affirmative action. Online pressure, legal threats and customer opposition have led many companies, including Walmart, Ford, Harley-Davidson, John Deere and others to make changes to their DEI initiatives. Still, Schwarz's bark might be louder than his bite. A March boycott against Amazon had negligible affect to its bottom line, with the company posting better-than-expected earnings results during that quarter. The 'economic blackout' effort is relatively uncoordinated and nebulous. Experts on consumer boycotts and corporate strategy are dubious that it will make a dent in the bottom lines of the massive companies that it targets, let alone the vast U.S. economy. However, a 40-day boycott against Target led by megachurch pastor Rev. Jamal Bryant, has been more fruitful. Sales fell last quarter, driven in part by customer backlash to Target's reversal on its DEI programs, the company admitted. By Jordan Valinsky, CNN
CNN
24-06-2025
- Business
- CNN
The ‘economic blackout' movement now wants you to boycott McDonald's, starting today
McDonald's is the latest target of a grassroots 'economic blackout' campaign that has previously targeted other major companies with mixed success. The People's Union USA, led by John Schwarz, is now calling on people to boycott McDonald's beginning Tuesday through next Monday, explaining in an Instagram post that he's demanding 'fair taxes, an end to price gouging, real equality, and corporate accountability.' 'This is a show of strength, solidarity and people powered change,' Schwarz wrote. 'Let them feel it. Let them hear us.' McDonald's did not immediately respond to comment about the boycott. Boycotts are notoriously difficult to organize, and it's not clear that the effort will make a dent in McDonald's bottom line. Nevertheless, the spotlight is shining on McDonald's at a less-than-ideal time for the company, which recently reported its second consecutive quarter of sales declines. Customers, especially in low and middle income brackets, have pulled back their spending amid economic uncertainty. McDonald's has faced backlash from some customers about its prices. The value perception of the chain has dimmed among its cash-conscious customers: The average price of items has soared about 40% since 2019. The company says this is in line with its rising costs. Schwarz didn't immediately respond for comment. His website calls the group 'a grassroots movement dedicated to economic resistance, government accountability, and corporate reform,' adding that the 'goal is to unite Americans against the corruption and greed that has kept us struggling for decades.' Schwarz garnered national attention earlier this year when his group called for an 'economic boycott' on Walmart, Target and Amazon for various reasons, including the roll-back of diversity, equality and inclusion (DEI) programs. In January, McDonald's ended some of its its specific diversity goals, including requiring its suppliers to commit to certain DEI targets. The chain also stopped participating in external surveys that measure corporate diversity, as well as changed the name of its diversity team to the Global Inclusion Team — a common practice for many other companies that have rolled back diversity pledges. Companies have changed their views on DEI following the re-election of President Donald Trump, who opposes the efforts, and a Supreme Court ruling against affirmative action. Online pressure, legal threats and customer opposition have led many companies, including Walmart, Ford, Harley-Davidson, John Deere and others to make changes to their DEI initiatives. Still, Schwartz's bark might be louder than his bite. A March boycott against Amazon had negligible affect to its bottom line with the company posting better-than-expected earnings results during that quarter. The 'economic blackout' effort is relatively uncoordinated and nebulous. Experts on consumer boycotts and corporate strategy are dubious that it will make a dent in the bottom lines of the massive companies that it targets, let alone the vast US economy. However, a 40-day boycott against Target led by megachurch pastor Rev. Jamal Bryant, has been more fruitful. Sales fell last quarter, driven in part by customer backlash to Target's reversal on its DEI programs, the company admitted.
CNN
24-06-2025
- Business
- CNN
The ‘economic blackout' movement now wants you to boycott McDonald's, starting today
McDonald's is the latest target of a grassroots 'economic blackout' campaign that has previously targeted other major companies with mixed success. The People's Union USA, led by John Schwarz, is now calling on people to boycott McDonald's beginning Tuesday through next Monday, explaining in an Instagram post that he's demanding 'fair taxes, an end to price gouging, real equality, and corporate accountability.' 'This is a show of strength, solidarity and people powered change,' Schwarz wrote. 'Let them feel it. Let them hear us.' McDonald's did not immediately respond to comment about the boycott. Boycotts are notoriously difficult to organize, and it's not clear that the effort will make a dent in McDonald's bottom line. Nevertheless, the spotlight is shining on McDonald's at a less-than-ideal time for the company, which recently reported its second consecutive quarter of sales declines. Customers, especially in low and middle income brackets, have pulled back their spending amid economic uncertainty. McDonald's has faced backlash from some customers about its prices. The value perception of the chain has dimmed among its cash-conscious customers: The average price of items has soared about 40% since 2019. The company says this is in line with its rising costs. Schwarz didn't immediately respond for comment. His website calls the group 'a grassroots movement dedicated to economic resistance, government accountability, and corporate reform,' adding that the 'goal is to unite Americans against the corruption and greed that has kept us struggling for decades.' Schwarz garnered national attention earlier this year when his group called for an 'economic boycott' on Walmart, Target and Amazon for various reasons, including the roll-back of diversity, equality and inclusion (DEI) programs. In January, McDonald's ended some of its its specific diversity goals, including requiring its suppliers to commit to certain DEI targets. The chain also stopped participating in external surveys that measure corporate diversity, as well as changed the name of its diversity team to the Global Inclusion Team — a common practice for many other companies that have rolled back diversity pledges. Companies have changed their views on DEI following the re-election of President Donald Trump, who opposes the efforts, and a Supreme Court ruling against affirmative action. Online pressure, legal threats and customer opposition have led many companies, including Walmart, Ford, Harley-Davidson, John Deere and others to make changes to their DEI initiatives. Still, Schwartz's bark might be louder than his bite. A March boycott against Amazon had negligible affect to its bottom line with the company posting better-than-expected earnings results during that quarter. The 'economic blackout' effort is relatively uncoordinated and nebulous. Experts on consumer boycotts and corporate strategy are dubious that it will make a dent in the bottom lines of the massive companies that it targets, let alone the vast US economy. However, a 40-day boycott against Target led by megachurch pastor Rev. Jamal Bryant, has been more fruitful. Sales fell last quarter, driven in part by customer backlash to Target's reversal on its DEI programs, the company admitted.
