Investing.com — Retail giant Target (NYSE:) announced the termination of its three-year diversity, equity, and inclusion goals. The company also stated that it would be wrapping up its Racial Equity Action (WA:) and Change (REACH) initiatives by 2025 as originally planned.

In a statement, Target emphasized its ongoing commitment to fostering a sense of belonging among its team, guests, and communities. The company stated that this sense of belonging is a crucial element of its team and culture, contributing to consumer relevance and business results.

Target highlighted its strategy, which involves recruiting and retaining team members who reflect the communities the company serves. This strategy aims to create a culture where everyone has access to opportunities and growth, which in turn drives business results.

The company also underscored its goal to create joyful experiences for its guests through a diverse product and service assortment that helps all visitors feel seen and celebrated. This approach aims to increase the company’s relevance among consumers.

In terms of community engagement, Target aims to build deep and lasting relationships with the communities it serves. This strategy is designed to drive impact, economic vitality, and connection, ultimately fueling customer loyalty.

The announcement also revealed that Target will be focusing on development and mentorship within its employee resource groups, which will remain open to all. Additionally, the company plans to further evaluate its corporate partnerships to ensure they align with its growth roadmap.

The retailer will cease all external diversity-focused surveys, including the Human Rights Campaign’s Corporate Equality Index. The company’s “Supplier Diversity” team will evolve into the “Supplier Engagement” team, reflecting an inclusive global procurement process that spans a wide range of suppliers. This shift will also include an increased focus on small businesses.

Target stated that it will continue to monitor and adjust its strategies as necessary, with the aim of driving growth and adapting to the evolving external landscape. The company will be implementing changes and accelerating action in key areas throughout 2025.

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