Target faces new backlash amid Minnesota ICE raids after boycotts over its DEI rollback. But don’t blame politics for falling profits, analyst says

Core Viewpoint - The economic strike in Minnesota highlights the backlash against Target due to its response to Immigration and Customs Enforcement (ICE) operations and its rollback of diversity, equity, and inclusion (DEI) initiatives, which has led to boycotts and declining profits. Group 1: Economic Strike and Target's Role - An economic strike is taking place in Minnesota to protest ICE's actions, with Target being a focal point after two employees were detained [1] - Target is one of 17 Fortune 500 companies in Minnesota, alongside UnitedHealthcare, 3M, and Best Buy [1] Group 2: Backlash Against Target - Renewed backlash against Target has emerged nearly a year after boycotts began due to the company's reduction of DEI initiatives [2] - Target's CEO, Brian Cornell, was previously a strong advocate for DEI following George Floyd's murder but has since rolled back commitments [2][3] Group 3: DEI Initiatives and Demands - Target eliminated its three-year DEI goals and ceased participation in external diversity surveys after the election of President Trump [3] - Civil rights leaders have made demands for Target to open locations at Historically Black Colleges and Universities (HBCUs) and to fulfill its pledge to invest in Black small businesses [4] Group 4: Company Actions and Community Support - Although Target has not committed to specific demands, it continues to support organizations that assist Black entrepreneurs and has initiatives aimed at connecting HBCU graduates with mentorship opportunities [5] - Target's efforts in community support have not been effectively communicated, contributing to the backlash [6] Group 5: Financial Impact - The boycott coincides with a significant decline in Target's foot traffic and sales, with a reported 19% profit drop to $689 million for the three-month period ending November 1 [6][7]