Target Gets Bad News Amid Push for ‘Pride’ Products

Target’s stock has dropped more than 10 percentage points since the company drew controversy for unveiling its latest line of LGBT products.

Since the backlash hit Target, the Minneapolis-based retailer’s stock has dropped some 12 percent, according to data published by the Dow Jones Market Data Group.  That amounts to a loss of more than $9 billion in market value, the data show.

On Wednesday, May 17, right around the time the controversy erupted, Target’s stock closed at $160.96 per share, giving the firm a $74.3 billion market capitalization. But about nine days later, on Friday, May 26, the company’s stock slid to $138.93.

In the midst of the backlash—led by prominent conservative Twitter accounts—the company confirmed in a news release that it removed some of its “pride collection” clothing and placed those items in the back of stores in some locations. But the release attempted to cast the blame on individuals who were leading the boycott, alleging that there have been “threats” targeting Target employees’ “sense of safety.”

“Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work,” the firm said, without elaborating on the specific threats. It’s not clear if any police reports were filed by the company. “Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior,” it also said.

Boycott

Starting earlier this month, some conservative influencers noted that the company was selling children’s clothing and products with LGBT imagery and statements, including LGBT-themed clothes for newborn infants.

Target’s website shows it recently released a “Pride Collection” for 2023, including the aforementioned onesies for infants. One onesie includes the statement “Bein Proud,” while another features rainbows and hearts along with what appears to be the transgender flag colors of dull pink, white, and light blue.

By Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

A Simple Question

What is a woman? Anyone with an IQ above room temperature can answer the question. Everyone, that is, except Democrats.

Democrats Tesla Takedown is a Proven Astro Turf Movement

Elon Musk and other journalistic leaders like Joe Rogan have been asking the critical question, “Who is behind the organization of these Tesla protests?”

Can Ramaphosa and Trump Come to Terms?

Whether South Africa can quell the hostility emanating from Washington, without compromising on its national priorities, is a formidable test for a country

Maddened Europe

Viable prospects for peaceful settlement of conflict between Moscow and Kyiv exist, but Europe obsesses over threat of incursion onto European territory.

BOMBSHELL: DOGE Proves Democrats Guilty of Election Fraud!

As the old expression goes, “That didn’t take long!” Over...

News

Crawford Defeats Musk-Backed Rival to Preserve Liberal Majority on Wisconsin Supreme Court

Judge Susan Crawford, backed by in-state Democrats and supported by millions in out-of-state donations, won most expensive Supreme Court seat in state history.

Victory! Federal Court Orders Parental Notice Laws Restored to Protect Minors Seeking Abortion, in a case almost 40 years in the making.

Teaming up with public officials, the Bopp Law Firm and Nevada Right to Life, PJI took a stand in federal court to restore protections for young girls, the preborn and parents.

Trump Says Agency Heads Will Work With DOGE After Elon Musk Leaves

President Donald Trump said adviser Elon Musk will eventually have to depart from the DOGE and go back to running his companies.

FTC Chairman Raises Concerns Over Sale of 23andMe DNA Data

FTC said it was worried about the safety of the personal data of Americans who were previously customers of genetic testing company 23andMe.

Judge Dismisses COVID Lawsuit Against Former New York Gov. Cuomo

Judge dismissed class-action lawsuit against former Gov. Andrew Cuomo that blamed his admin for COVID-19 deaths in nursing homes across NY.

Tesla Firebombing Suspect Hit With Federal Charges

The U.S. Dept of Justice has filed federal charges against a suspect in connection with a firebombing attack on a Tesla dealership in Loveland, Colorado.

What to Expect From Trump’s Global Tariffs

Trump has dubbed April 2 “Liberation Day,” when he will unveil reciprocal tariffs to level the trading field between the United States and its 200 partners.

Voters Head to Polls in 3 Key Elections in Florida, Wisconsin: What to Watch For

On April 1, voters head to the polls for three races in Florida and Wisconsin, with substantial implications for the future beyond the current contests.
spot_img

Related Articles

Popular Categories

MAGA Business Central