This weekend, as we gathered for the ESSENCE Festival of Culture, I am reminded of the power of community. The festival is much more than a singular event, it’s a celebration of culture, creativity and commerce. We at Target are grateful for our continued partnership with ESSENCE and extend our thanks to the team that brings this moment to life year after year. We’re especially grateful to the guests who visited us throughout the weekend—your presence, energy and engagement made this experience truly special.
Over the past few months, you may feel like you’ve heard more about Target than you’ve heard from Target. And that’s fair. I’ve been listening to our team, our partners, our guests and our communities; thank you for your honesty, your feedback and your patience. Let me be clear: our commitment to opportunity for all and inclusion is unwavering. These values are foundational to how we serve our guests, support our team and grow our business.
This year, we will complete our commitment to invest $2 billion in Black-owned businesses, more than doubling the number of Black-owned brands on our shelves. Through our Accelerator program, we’ve supported more than 500 entrepreneurs, helping them scale and succeed in retail.
We’re completing our $100 million investment in Black-led community organizations, including the Northside Economic Opportunity Network in our hometown of Minneapolis, the Russell Innovation Center for Entrepreneurs in Atlanta, and the PENSOLE Lewis College of Business and Design, the first reinstated HBCU which offers free tuition to aspiring designers, engineers, and business leaders – among many more.
We’ve also expanded access to education and opportunity, supporting thousands of students at over 20 HBCUs and providing tuition assistance to more than 30,000 team members through our Dream to Be program.
These are not just numbers. They represent lives changed, businesses grown and futures made brighter.
Going forward, we remain focused on driving growth and opportunity, supporting small businesses, increasing access to education and building the best team to serve the more than 2,000 communities where Target operates. This includes continuing to donate 5% of our profits to a range of organizations and activating our long-standing tradition of local volunteerism.
This is the work we’ll continue to do. And we’ll do it, together.