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Sales at retail giant Target took a dive during the first three months of 2025 and executives have indicated that boycotts over its rollback on diversity, equity, and inclusion (DEI) practices are at least partially to blame. On Wednesday, the chain cut its full-year sales outlook. Compared to this time last year, Target’s first-quarter sales fell by 2.8%, failing to meet Wall Streets expectations. According to a consensus estimate cited by CNBC, analysts were expecting adjusted earnings per share of $1.61. Target reported adjusted EPS of $1.30. Months ago, Target stepped away from DEI, bowing to President Trump, who has made anti-DEI initiatives a cornerstone of his second-term agenda. Target’s move did not go unnoticed by loyal shoppers. In the wake of the decision, many called for boycotts, and some vowed to shop only at stores that stand for equality. Sales fell, as did Target’s stock, which has tanked at least 40% over the last year, as Fast Company‘s Elizabeth Segran reported recently. ‘We’re not happy with that’ Of its latest dip in revenue, CEO Brian Cornell told reporters, per CNBC, that the company only held market share in 15 of the 35 merchandise categories that it tracks internally, meaning the Target brand is falling behind competitors. Were not happy with that, Cornell said. Weve got to be growing [market] share in 60, 70, 80% of those categories.” Cornell also said that in order to address the impact of tariffs, the brand is “constantly adjusting pricing.” He said, Some are going up, some will be reduced, but thats an ongoing effort that takes place each and every day. But the CEO pointed to other issues impacting sales, too, like “declining consumer confidence,” and, perhaps the most impactful, the brand’s move away from DEI. He referred to the major blowback somewhat gently as “the reaction to the updates we shared on belonging in January. However, the fallout for Target has been anything but gentle. While many companies stepped away from DEI programs after Trump came into office this January, boycotts have seemed to hit Target harder. Jamal Bryant, the Atlanta-based pastor who helped kick-start the Target boycott, previously told Fast Company that he believes it’s because the move demonstrated the brand’s previous commitments to Black-owned brands were perhaps merely performative. Weve never asked Target for a handout; we were looking for a handshake, Bryant said. And for Target to withdraw that hand so suddenly was disappointing. Target’s numbers certainly seem to underscore that consumer dissatisfaction. Its net sales for the first quarter were $23.8 billion, down from $24.5 billion for the same period last year. Target shares (NYSE: TGT) were down around 6% in early trading Wednesday. The stock has tumbled more than 32% year to date.
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E-Commerce
This week, the U.S. Tennis Association (USTA) announced that its putting the revenue from selling U.S. Open tickets and $23 signature Honey Deuce cocktails toward a new cause: Completing an $800 million renovation of the USTA Billie Jean King National Tennis Center (NTC), the sports complex that hosts the annual tennis championship. The renovation represents the single largest investment in U.S. Open history, according to a press release published by the USTA. It will encompass a full transformation of the Arthur Ashe Stadium, where championship games are played, as well as a luxe new player performance center on the NTCs campus. The work will be spearheaded by the architectural firm Rossetti, which designed Arthur Ashe stadium back in 1994 and has since returned to add a retractable roof to the building, as well as two supplementary stadiums within the complex. This update will bring the lifetime construction cost of Arthur Ashe stadium to over $1 billion. [Image: courtesy USTA] This latest round of renovations is set to be completed by the 2027 U.S. Open, with three construction phases planned to avoid conflicts with scheduled play in the intervening years. The updates are designed to dramatically increase the stadiums capacity and to create a more modern, luxurious experience for both fans and athletes. Every square inch of the stadium is being revamped, from the club level to the lounge and the promenade, Danny Zausner, chief operating officer at the USTA, told reporters in an interview this week. Here’s a rundown. [Image: courtesy USTA] Whats new at Arthur Ashe stadium The design vision for the Arthur Ashe stadium will be apparent to guests before they even enter the venue. Based on renderings provided by the USTA, a new Grand Entrance will usher viewers into the space through a two-story, futuristic silver ring arcing above the doorways. Inside, the stadium itself will be almost entirely overhauled. Per the press release, the promenade-level concourse, where guests typically gather and mingle, will be sized up by 40%; more escalators and elevators will be added to every level; and an upward extension of the courtside-level bowl will increase its capacity from 3,000 to 5,000 attendees. Arthur Ashe Stadium’s overall capacity of 24,000, which makes it the largest tennis stadium in the world, will remain the same as the design team plans to relocate seating to this bowl from other parts of the arena. [Image: courtesy USTA] New amenities will also include modernized concorses with all-new retail, food, and beverage spaces, added clubs and restaurants, and two new dedicated luxury suite levelspresumably catering to the U.S. Opens coterie of VIP guests. [Image: courtesy USTA] This project enables us to maintain the greatest stage in tennisArthur Ashe Stadiumwhich was constructed more than 25 years ago, and modernize it in a way that will set it up for the next 25 years, Lew Sherr, CEO and executive director of USTA, said in the press release. It also provides us the opportunity to give the players that compete in that stadium an unparalleled space that will enable them to perform at their best and enjoy a higher level of luxury and comfort while they are off the court. [Image: courtesy USTA] “Spa-like” athlete facilities While the U.S. Open fan experience is getting a facelift, part of this major investment is also being funneled toward athlete facilities. Those upgrades will come in the form of a $250 million player performance center, located on the top two floors of an existing building to the west of the Arthur Ashe stadium. Inside, players and teams will be treated to indoor and outdoor fitness areas, spa-like locker rooms and lounges, and even a cafe accessible only to athletes. [Image: courtesy USTA] The press release notes that this added investment is intended to provide the nearly 2,800 athletes and team members at the U.S. Open with everything they need to maximize their on-court performance. Theres no doubt about itwhen you walk into the stadium, the entire look and feel will change,” says Zausner.
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E-Commerce
U.S. President Donald Trump’s plan for a “Golden Dome” to protect the United States from long-range missiles was at least partly inspired by Israel’s multitiered missile defenses.Trump announced the $175 billion concept in the Oval Office on Tuesday, saying it would put U.S. weapons in space for the first time and be would be “fully operational” by the end of his term in early 2029, though a U.S. official familiar with the program said it could take longer.Israel’s multilayered defenses, often collectively referred to as the “Iron Dome,” have played a key role in defending it from rocket and missile fire from Iran and allied militant groups in the conflict unleashed by Hamas’s October 7, 2023, attack.The sophisticated system, developed over decades with considerable U.S. support, is capable of detecting incoming fire and deploying only if the projectile is headed toward a population center or sensitive military or civilian infrastructure. Israeli leaders say the system isn’t 100% guaranteed, but credit it with preventing serious damage and countless casualties.Here’s a closer look at Israel’s multilayered air-defense system: The Arrow This system developed with the U.S. is designed to intercept long-range missiles. The Arrow, which operates outside the atmosphere, has been used to intercept long-range missiles launched by Iran-backed Houthi rebels in Yemen and by Iran itself during two direct exchanges of fire last year. David’s Sling Also developed with the U.S., David’s Sling is meant to intercept medium-range missiles, such as those possessed by Lebanon’s Hezbollah militant group. It was deployed on multiple occasions throughout the war with Hezbollah, which ended with a ceasefire last year. Iron Dome This system, developed by Israel with U.S. backing, specializes in shooting down short-range rockets. It has intercepted thousands of rockets since it was activated early last decadeincluding volleys launched by Hamas and Hezbollah. Israel says it has a success rate of over 90%. Iron Beam Israel is developing a new system to intercept incoming threats with laser technology. Israel has said this system will be a game changer because it would be much cheaper to operate than existing systems. According to Israeli media reports, the cost of a single Iron Dome interception is about $50,000, while the other systems can run more than $2 million per missile. Iron Beam interceptions, by contrast, would cost a few dollars apiece, according to Israeli officialsbut the system is not yet operational. Follow AP’s war coverage at https://apnews.com/hub/israel-hamas-war Associated Press
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E-Commerce
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