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

Across Minnesota on Friday, people are participating in an economic strike to protest Immigration and Customs Enforcement’s crackdown. The state is home to 17 Fortune 500 companies, including UnitedHealthcare, 3M, and Best Buy. But one company, Target, has become the center of the tension over ICE operations. 

On Jan. 8, immigration officials detained two Target employees, who are U.S. citizens, during their shift in Richfield, Minnesota. Videos of the arrest quickly spread on social media. 

The recent events have caused renewed backlash against Target, nearly a year after boycotts began over the company rolling back its diversity, equity, and inclusion initiatives. 

Target CEO Brian Cornell was once an outspoken supporter of DEI initiatives following the murder of George Floyd in Minneapolis in 2020, and the company was seen as a strong advocate for Black and LGBTQ+ businesses and customers. 

But Target eliminated its three-year DEI goals and stopped participation in external diversity surveys, ...