Target Already Feeling Major Financial Pain as Conservative Backlash Intensifies
Target investors are feeling the financial strain of the company’s decision to prominently feature LGBT “pride” month products — some for children and some designed by a transgender satanist — at the front of its stores.
The company has nearly $10 billion in market value over the last week since it faced a consumer backlash for its promotion.
Many shoppers have expressed outrage over the company’s LGBT propaganda and are boycotting.
A look at the company’s stock price shows Target has suffered financially over the last week.
On May 17, shares of the company traded at roughly $160. By Thursday afternoon, the same shares were trading at about $138.
That brought the big box giant’s total value from $74.3 billion to $64 billion — or just under $10 billion — in just one week.
The S&P 500 has been down about 1 percent during the same time, but that is nowhere near the 13.8 percent loss Target gas seen.
For comparison, shares of Walmart were down during the same time period by less than 3 percent.
The index and its chief competitor have seen losses, but nowhere near those of Target.
It appears as though the company’s decision to alienate customers through its “pride” campaign could have played a significant role.
.@Target is selling “tuck friendly” and “binding” clothing for infants and children as part of their Pride Month collection.
Target is reportedly holding an “emergency meeting” after backlash from their customers.
What do you think?
📹: @CarriePrejean1 pic.twitter.com/uM4fUzB87r
— KUSI News (@KUSINews) May 23, 2023
Target has reversed course this week on its decision to display not just LGBT pride merchandise, but merchandise that was created by the U.K.-based company Abprallen.
Many Abprallen products are designed by transgender satanist Erik Carnell.
In one Instagram product description, the company declares, “Satan loves you and respects who you are; you’re important and valuable in this world and you deserve to treat yourself with love and respect. LGBT+ people are so often referred to as being a product of Satan or going against God’s will, so fine. We’ll hang with Satan instead.”
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The product declares, “Satan respects pronouns.”
Target appears to have cut ties with Abprallen — none of its products show up on the retailer’s website — and it is moving the “pride” merchandise from stores in some rural Southern markets, according to Fox News.
In a statement Wednesday, the company said, “For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month. Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work.
Target 🎯has begun to remove some of its Pride Collection from its stores after intense backlash.
In a statement, the brands press office blamed customers making “threats” against “team members” for the move.
“Given these volatile circumstances, we are making adjustments to… pic.twitter.com/NA8vaZqaEn
— Oli London (@OliLondonTV) May 24, 2023
“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.
“Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
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