Democrat prosecutors sent a letter to Target Corp. after it removed some of its “Pride Month” merchandise last month in the midst of boycotts.
A coalition of 15 Democrat attorneys general sent a letter to Target CEO Brian Cornell, saying that the decision to pull LGBT products—including clothing for small children—is a setback for the “march for social progress.”
“While we understand the basis for this action, we are also concerned it sends a message that those who engage in hateful and disruptive conduct can cause even large corporations to succumb to their bullying, and that they have the power to determine when LGBTQIA+ consumers will feel comfortable in Target stores—or anywhere in society,” the group wrote in a letter (pdf) on Tuesday.
It’s not clear what bullying or disruptive conduct the attorneys general were referring to. However, there were some reports indicating that Target locations in at least five states received bomb threats, with local news outlets in New Hampshire, Vermont, and New York receiving a threatening email that accused Target of “betraying the LGBTQ+ community.”
Target’s shares have dropped over the past month and a half amid backlash over the company’s “pride collection” merchandise, which included LGBT-themed onesies for babies, kids books, and other items. Of note, some conservative commentators called for a boycott after it was discovered that Target was selling a “tuck friendly” swimsuit apparently targeting biological males who claim to be transgender women, which Target later said was not sold to children.
For example, items that were flagged by social media influencers include a onesie for infants that says “Bien Proud,” a children’s book titled “Twas the Night Before Pride,” and a book that tells children how to use transgender pronouns.
The retail giant’s stock price stood a $160.96 on May 17, right before the boycott erupted. As of Tuesday afternoon, its stock stood at $132.73.
Also, JPMorgan Chase downgraded Target’s stock at the start of the month, as analysts forecast a decline in sales due to sticky inflation. And on June 5, KeyBanc Capital Markets reduced the retailer’s shares to “sector weight” from “overweight,” due to the resumption of student loan payments.
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