Target's sales dropped 2.8% in Q1 2025, prompting a revision of its sales outlook amid boycotts linked to its abandonment of DEI practices. CEO Brian Cornell highlighted that the company holds market share in only 15 out of 35 categories, a concerning statistic that reflects declining competitiveness. Alongside the DEI backlash, factors like declining consumer confidence and fluctuations in pricing due to tariffs have also exacerbated the company's struggles, leading to a significant stock decline of at least 40% over the past year.
Sales fell, as did Target's stock, which has tanked at least 40% over the last year.
Many called for boycotts, and some vowed to shop only at stores that stand for equality.
Cornell said that the company only held market share in 15 of the 35 merchandise categories.
He pointed to declining consumer confidence and the brand's move away from DEI as significant issues impacting sales.
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