U.S. retail giants are suffering under competing boycotts as people of all political persuasions vote with their wallets, according to a new CNN analysis published on Wednesday.
"Corporate America is required to disclose risks to their businesses in their annual regulatory filings," reported Nathaniel Meyersohn. "This year, Walmart, Target, Home Depot, Corona-parent Constellation Brands join an increasing number of companies advising investors about customer and legal backlash to their diversity, equity and inclusion (DEI) policies and environmental, social and governance (ESG) initiatives.
"They’re also giving notice of the risks of rolling back these programs."
Target has become something of a poster child for the impossibility of navigating the political climate. It was the subject of right-wing boycotts prior to the election for honoring Pride events. Under pressure from right-wing activists, the company backed off its DEI initiatives, only for the company to face a counter-boycott from Black shoppers enraged that it caved to MAGA demands.
The company acknowledged as much this year, the report continued: "Target said in its annual report in March that expectations from shareholders, customers and employees over whether it should offer certain products or pursue ESG and DEI goals are varied, and at times conflicting.
"'We have previously been unable to meet some of those conflicting expectations, which has led to negative publicity and adversely affected our reputation,' Target said."
All of this comes at a moment when President Donald Trump himself is picking a fight with Walmart, warning it not to raise prices to accommodate his trade war and to "eat the tariffs."
However, some economic experts have warned that, even if Walmart and similar retailers were to comply with Trump's demands, the tariffs would still reflect in job losses and decreased wage growth.
