NEW YORK — In the wake of mounting boycotts and a decline in stock value, Rev. Al Sharpton met with Target CEO Brian Cornell Thursday to confront the company’s controversial rollback of diversity, equity, and inclusion (DEI) initiatives.
Sharpton called the conversation “very constructive and candid,” according to an update from his National Action Network (NAN). Joining him were National Board Chair Dr. W. Franklyn Richardson and Senior Advisor Carra Wallace.
“I am going to inform our allies, including Rev. Dr. Jamal Bryant, of our discussion, what my feelings are, and we will go from there,” Sharpton said in a statement.
Bryant, an Atlanta-area pastor, organized targetfast.org, recruiting Christians nationwide for a 40-day boycott that began on March 5. The movement is part of a broader economic resistance launched after Target, Walmart, Tesla, and other corporations abruptly dismantled DEI policies following President Donald Trump’s January return to office.
The backlash appears to be taking a toll. According to Nasdaq data, Target’s stock price plummeted 17% from a high of $142.50 on January 27 to $118.22 by March 4. Target also saw a 9% drop in website traffic and an 11% drop in nationwide foot traffic on February 28—the final day of Black History Month and the date of a nationwide Economic Blackout?.
What will come out of Target meeting with Rev. Al Sharpton?
Target announced on January 24 that it would abandon its three-year DEI goals, stop participating in external diversity surveys, and rebrand its “supplier diversity” team to “supplier engagement.” These moves came just days after Trump signed executive orders demonizing DEI efforts in federal agencies and threatening to cut funding for noncompliant institutions.
While it’s difficult to directly link the boycotts to Target’s stock decline, the timing has fueled public scrutiny. Some experts urge caution. Dr. Jared Clemons, an assistant professor at Temple University, told the Black Wall Street Times that multiple factors could contribute to Target’s market struggles. “Correlation doesn’t automatically equal causation,” Clemons said. “I don’t think Target or any institution is going to reinstate anything until there is clarity judicially around what DEI is.”
Despite growing calls for accountability, Target has not yet responded to a request for comment from the Black Wall Street Times.
The National Action Network confirmed Sharpton also met with PepsiCo leadership earlier this week to demand transparency regarding its DEI commitments amid similar rollbacks.
Sharpton plans to consult NAN board members over the Easter holiday to determine next steps with Target, PepsiCo, and other corporations under scrutiny for scaling back diversity initiatives.
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