Days after President Trump ordered federal agencies to investigate private sector entities for “illegal” diversity, equity and inclusion programs, Target has become the latest major company to retreat on D.E.I.
Target announced on Friday that it will conclude its D.E.I. goals and will no longer participate in external diversity-focused surveys, including sharing data with the Human Rights Campaign, a nonprofit group that tracks corporate L.G.B.T.Q. policies.
“As a retailer that serves millions of consumers every day, we understand the importance of staying in step with the evolving external landscape,” wrote Kiera Fernandez, chief community impact and equity officer for Target, in a memo.
Target joins a fast-growing group of companies dropping diversity commitments and policies, as Mr. Trump makes clear his intent to fight D.E.I., in the federal government and beyond. Last summer, Tractor Supply, John Deere and Harley-Davidson ditched D.E.I. programs, in part in response to threats of boycotts led by the conservative activist Robby Starbuck. More recently, other companies have rolled back diversity programs too, including Meta, Walmart and Amazon.
JPMorgan, the country’s largest bank by assets, has so far taken a different tack, with its chief executive, Jamie Dimon, announcing this week that the bank does not intend to back down on diversity. “Bring them on,” he said in an interview with CNBC, referring to the activists agitating against the bank’s D.E.I. programs. Costco, too, has fought changes. On Thursday, its shareholders rejected a proposal brought by a conservative group that would have required the company to report the risks of its D.E.I. policies.
After the murder of George Floyd in Minneapolis in 2020, when many companies were making commitments to fighting racial injustice, Target’s chief executive, Brian Cornell, reacted emotionally and committed to spending $2 billion with Black owned businesses by 2025.
“I remember gathering my Black officers right after George Floyd’s murder,” Mr. Cornell said on CBS News. “Those team members had tears in their eyes and they were telling me how it affected them, their families.”
Target, which has its headquarters in Minneapolis, has had a rough time in the marketplace. A weak earnings report in November sent investors fleeing.
