After two fatal shootings by federal officers this month in Minneapolis, chief executives of Minnesota-based companies spoke about the clashes between anti-ICE demonstrators and law enforcement - albeit without mentioning President Donald Trump or the agency directly.
In a message to Target Corp. (TGT) employees on Monday, Michael Fiddelke, who becomes the Minneapolis-based retail chain's chief executive next month, said that "violence and loss of life in our community is incredibly painful."
"I know it's weighing heavily on many of you across the country, as it is with me," he said in that message.
"What's happening affects us not just as a company, but as people, as neighbors, friends and family members within Target," he added. "We are doing everything we can to manage what's in our control, always keeping the safety of our team and guests our top priority."
Shares of Target finished 3.8% lower on Monday.
The message arrived after federal agents fatally shot Alex Pretti, a VA nurse, on Saturday in Minneapolis. Renee Good was also killed by an agent on Jan. 7.
Over the weekend, some businesses in Minnesota closed in a show of protest against ICE's presence there. The deaths and demonstrations have followed months of anti-ICE protests and clashes between law enforcement and protesters across the U.S., amid Trump's aggressive deportation campaign.
On Sunday, more than 60 CEOs of Minnesota-based companies, in an open letter, called for "an immediate de-escalation," and said they were focused on "real solutions."
Signatories in that letter included Fiddelke, as well as executives of 3M $(MMM)$, Best Buy Co. Inc. $(BBY)$, C.H. Robinson Worldwide Inc. $(CHRW)$, General Mills Inc. $(GIS)$, Hormel Foods Corp. $(HRL)$, Sleep Number Corp. (SNBR), UnitedHealth Group Inc. $(UNH)$ and Winnebago Industries Inc. $(WGO)$. No less than 15 S&P 500 companies are based in Minnesota.
Sleep Number's stock was down 5.3% on Monday. Best Buy's stock lost 0.5% and UnitedHealth declined 1.3%.
The remarks arrived after corporate America over the past half decade has struggled to respond to social and political strife in the nation. Past statements and gestures from big corporations, which are often focused on attracting consumers and satiating shareholders, have come across as performative and watered-down, and been harshly criticized by people on both sides of the political aisle.
Last year, as Trump began his aggressive deportation campaign, some large companies began to call out the financial impact.
A recent ConsumerEdge analysis of retail spending, cited earlier by Business Insider, found that Minneapolis has "meaningfully underperformed both the national average," although spending in January also typically slows amid harsher winter weather and the post-holiday slowdown.
Target, when reached for comment, declined to offer details on the impact to sales this month. Best Buy did not immediately respond to a request for more details.
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