Florida’s attorney general filed a federal court lawsuit against Target on Thursday, claiming the Minneapolis-based discount store chain “misled investors” by promoting diversity, equity and inclusion initiatives that prompted a backlash and hurt sales, ultimately costing shareholders.

Before it scaled back its DEI efforts last month, Target was long considered a corporate advocate for the rights of Black and LGBTQ+ people. The retailer’s decision in 2023 to roll out LGBTQ+ merchandise in honor of Pride month outraged some shoppers and sparked confrontations in some stores.

In the lawsuit filed in Fort Myers, Fla., Attorney General James Uthmeier argued that Target violated the Securities Exchange Act by failing to disclose “the known risks” of its DEI and Pride month initiatives.

“Corporations that push radical leftist ideology at the expense of financial returns jeopardize the retirement security of Florida’s first responders and teachers,” Uthmeier said in a statement. “My office will stridently pursue corporate reform so that companies get back to the business of doing business — not offensive political theatre.”

Uthmeier, who was appointed as attorney general by Republican Gov. Ron DeSantis this week, has pledged to use the state’s legal muster to “champion an America-first agenda” and challenge what he called “the left.”

Target did not respond to a request for comment.

Target announced in late January that it planned to discontinue a program aimed at better serving Black employees, Black shoppers and Black-owned businesses.

The retailer ushered in a series of DEI initiatives following the police killing of George Floyd in Minneapolis in 2020.

Since then, diversity, equity and inclusion policies have come under attack from conservative activists and the White House. Walmart and a number of other prominent American brands also have scrapped or reduced their DEI commitments.

Earlier this month, Missouri’s attorney general sued Starbucks over its diversity policies, claiming the coffee chain engaged in “systemic racial, sexual, and sexual orientation discrimination.” The Seattle-based company has called the claims “inaccurate.”

— Associated Press

Amazon buys Bond, James Bond

The British family that has steered the James Bond franchise for more than 60 years, zealously protecting the superspy from the indignities of Hollywood strip mining, has agreed to relinquish control to Amazon.

The deal, which was announced Thursday, comes after a behind-the-scenes standoff between Barbara Broccoli, who inherited control of Bond from her father, and Amazon, which gained a significant ownership stake in the franchise in 2021 as part of its $8.5 billion purchase of Metro-Goldwyn-Mayer. Broccoli and her brother, Michael G. Wilson, another Bond producer, had chafed at some of the ways in which Amazon hoped to capitalize on the property, The Wall Street Journal reported in December.

In a statement released by Amazon, the siblings and the tech giant said they had agreed to form a new joint venture to house Bond; the parties will remain co-owners.

Walmart delivers couched optimism

Walmart delivered another year of strong sales and profits as its competitive prices became a strong magnet for inflation-weary shoppers. Yet uncertainty about the state of the American consumer and the potential impact of tariffs have seeped into expectations for 2025.

The financial outlook from nation’s largest retailer, which has thrived amid stubborn inflation, delivered a jolt across the retail sector. Walmart sees per share profit over the next year coming in as much as 27 cents below analyst projections, a notable shift that sent company shares down more than 6.5% Thursday.

Its sales outlook was also mild, potentially a reflection of challenges ahead as consumers pull back on spending and President Donald Trump’s tariffs on China and other countries threaten the low-price model that is the core of Walmart’s success

— From news services