Boycott Over Diversity Dents Target’s Sales

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 21 May 2025

⏱️ 13 minutes

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Summary

P.M. Edition for May 21. In its first quarter earnings reported today, Target’s sales declined more than analysts expected and the company lowered its outlook for fiscal 2025. WSJ reporter Sarah Nassauer discusses the challenges facing Target’s business. Plus, a meeting between President Trump and South African President Cyril Ramaphosa grew tense over Trump’s unsubstantiated claims that white South Africans were the victims of a possible genocide. And a report from the Boston Fed examines potential risks of the rapidly expanding nonbank lending, which is often financed by banks. Platform editor Isaac Taylor breaks down what that means. Alex Ossola hosts. Boycotting Target: A WSJ Podcast Series Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The Steakhouse Stack, with two layers of delicious beef, crispy onions and peppercorn sauce.
0:04.5	It's the kind of McDonald's you take photos of to put pride of place on the mantelpiece.
0:08.2	Sure, you'll need to make room, but you remember what your wedding day looked like.
0:11.5	The Steakhouse Stack. It's McDonald's, and then some.
0:15.6	Available to the 17th of June, served from 11 a.m., subjects of availability, participating in restaurants only.
0:23.0	A boycott over targets diversity policy dense the retailer's first quarter sales.
0:28.8	Plus, Boston Fed economists warn that the growth of private credit comes with risks.
0:34.3	If private credit lending is growing because these loans are being made to riskier borrowers,
0:39.2	then it could lead to an accumulation of greater systemic risk and weaken the financial system.
0:45.3	And tensions flared between President Trump and the South African president
0:49.2	over alleged claims of genocide of white South African farmers.
0:53.9	It's Wednesday, May 21st.
0:56.0	I'm Alex Oslo for the Wall Street Journal.
0:58.3	This is the PM edition of What's News,
1:00.6	the top headlines and business stories that move the world today.
1:08.9	Target's troubles are mounting.
1:10.5	The retail giant reported tepid first quarter results this morning. Target's troubles are mounting.
1:14.4	The retail giant reported tepid first quarter results this morning.
1:21.2	In a three months ended May 3rd, comparable sales fell 3.8%, a steeper drop than analysts expected.
1:24.2	The company lowered its forecast for the fiscal year.
1:27.6	Sarah Nassauer covers large retailers for the Wall Street Journal.
1:34.1	Sarah, what happened here? What is affecting Target sales? Target is sort of being hit by a multitude of things. They called out the overall macroeconomic environment, weak consumer confidence, lower
	...

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