GEOFF BENNETT: The big box retailer Target is reeling.

Sales have stalled, its stock price has plunged, and the company faces growing backlash months after rolling back its diversity, equity and inclusion, or DEI initiatives.

A boycott led by our next guest slowed store traffic nationwide, and is among the factors that pushed longtime CEO Brian Cornell to step down after 11 years.

Now Target is scrambling to reset its image and strategy.

We're joined now by Pastor Jamal Bryant of New Birth Missionary Baptist Church in Georgia, who spearheaded that boycott.

Pastor Jamal Bryant, thank you for being with us.

PASTOR JAMAL BRYANT, New Birth Missionary Baptist Church: My privilege.

Thank you.

GEOFF BENNETT: Before we get your reaction to the change in leadership at Target, I do want to ask, why focus on Target, when a number of retailers and corporations from Walmart to McDonald's have rolled back their DEI initiatives?

Why single out Target, when this appears to be a broader corporate retreat?

PASTOR JAMAL BRYANT: After the inauguration of President Trump, 23 corporations backtracked away from diversity, equity and inclusion, and we thought it prudent to just go after one at a time.

The African American community spends upwards of $12 million a day at Target.

And so we thought that the one that was the most trafficked should be the focus of our media attention.

GEOFF BENNETT: Do you see the stepping down of Target's longtime CEO as a direct result of your campaign?

And what do you expect from the company's new leadership?

PASTOR JAMAL BRYANT: The reality is, it's not stepping down.

It's stepping aside.

He's being replaced by the COO, and he has now moved upwards as the chair of the board.

So it's really rewarding of bad behavior.

We're really disappointed.

But we hope and we are hopeful that there will be a change of perspective when it comes to a DEI for the company.

GEOFF BENNETT: It's striking that Target hasn't reinstated its DEI program, even as it struggles with declining sales, sluggish foot traffic.

What does that tell you about the current climate and how corporations are valuing diversity today when faced with the political pressure?

PASTOR JAMAL BRYANT: I think that diversity is in as much danger as democracy is.

The president of Target, as well as Walmart and Amazon, met with the president back in February.

And I think that they have held on to his admonishment more than what the consumers are clamoring to say.

And so I think it's unfortunate that it has to go this far and this long.

GEOFF BENNETT: I reached out to Target ahead of this conversation.

And while the outgoing CEO wasn't made available, the company pointed us to his recent op-ed where he highlights Target's $2 billion investment in Black-owned businesses, more than doubling the number of Black-owned brands on its shelves, supporting more than 500 entrepreneurs, completing a $100 million investment in Black-led community organizations.

Why do you see those efforts as insufficient?

PASTOR JAMAL BRYANT: I think it's insufficient because they produce no receipts, $2 billion, and yet they have not been forthcoming as to what entities were the recipients of it.

We asked them to lay out, where did they make the investment?

They said, because of privacy, they couldn't release it.

We'd love to put a ribbon on it, but if Black companies or Black banks were the recipients, they would be clamoring to announce it, and yet we're in silence of the lambs.

Nobody can attest to the graciousness that they are claiming to represent.

GEOFF BENNETT: Why, in your view, does Target owe Black Americans anything beyond what it already provides as a public company that employs and serves millions of Americans of all races?

PASTOR JAMAL BRYANT: It is one of the lead employers of African Americans.

They are the beneficiaries of African American consumption.

When George Floyd died, we didn't protest, we didn't march, we didn't boycott.

Out of their own will, they made the pledge of $2 billion, and then it stalemated.

It was supposed to be turned over to us July 31.

And we still are not seeing anything.

We are reasonable and amenable to a meeting to be able to see it in private, but none of those requests have been responded to.

GEOFF BENNETT: What's the endgame if Target does not meet your requests?

PASTOR JAMAL BRYANT: Then they will continue to hemorrhage.

And I think, with 9.7 percent of foot traffic being slowed down, online sales being slowed down, the stock continuing to plummet, the valuation has dropped by $12 billion, then I think that it's time now for the shareholders to make their voice clear on what is needed and necessary.

The Montgomery bus boycott went for a year and a day.

And this is just our fifth month.

And so I think it would be advantageous of them to meet and see how it is that we can reconcile, so that the company can go forward and so that the community can continue to rise.

GEOFF BENNETT: Given the parallel you raised to the Montgomery bus boycott, given the impact of this boycott in influencing a major corporation, how do you see yourself leveraging this kind of organizing power on other issues?

PASTOR JAMAL BRYANT: Well, this is the first real organizing power of Black economic strength in 70 years.

And I think a lot of corporations are sitting back waiting to see what will be the outcome.

And that's why this is so critical and so important.

And this generation, quite frankly, needs a victory to know that our collective works are not in vain, but can really make an impact and make a difference.

GEOFF BENNETT: Pastor Jamal Bryant, thank you for your time.

We appreciate it.

PASTOR JAMAL BRYANT: I'm grateful.

Thank you, sir.