Target (NYSE:TGT) shares climbed more than 2.5% on Thursday after news broke that CEO Brian Cornell is preparing to meet with civil rights leader Rev. Al Sharpton to discuss the company's recent pullback on diversity, equity, and inclusion (DEI) initiatives. The move comes as Target faces mounting pressure from both activists and customers, and amid declining store traffic tied to a six-week Target fast protest.
Sharpton has already warned that a boycott could follow if the retailer doesn't reaffirm its commitment to supporting Black communities, businesses, and employees. If an election determines your commitment to fairness, then fineyou can step away from us, but we can step away from you, he said.
The upcoming meeting appears to be part of a broader effort by Target to prevent further fallout and stabilize public sentiment, especially as reports show foot traffic has declined for 10 straight weeks since the company first scaled back its DEI programs in late January.
Meanwhile, Target is also managing a Class II baby food recall involving several of its Good & Gather products, which were found to contain traces of lead. While the risk is considered low, parents are being urged to discard affected products as a precaution.
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