Welcome to this week’s Fast Company update. Today, we’re digging into Target’s “terrible, horrible, no good, very bad year.” In January, the retail giant broke six decades of White House tradition to donate $1 million to the Trump Inaugural Committee. Two weeks later, it quietly rolled back diversity, equity, and inclusion programs—slashing commitments to increase its Black workforce and stock Black-owned brands. The backlash was swift. Civil rights leaders rallied customers into a boycott, and foot traffic at nearly 2,000 stores is now down as much as 7.7 percent compared to last year. Target’s stock has plunged around 40 percent over the past twelve months. And with Trump’s tariffs driving up costs on goods from China and beyond, shoppers are feeling the pinch too. Even the page tracking Target’s $2 billion pledge to Black suppliers “has disappeared.” Clearly, this year has been a reckoning for the big-box retailer—and the fallout is far from over.
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