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Target’s Sales Fell for First Time in 6 Years Over Pride Month Backlash

2023-08-16 1 Dailymotion

Target’s Sales Fell for First Time in 6 Years , Over Pride Month Backlash.<br />Target’s Sales Fell for First Time in 6 Years , Over Pride Month Backlash.<br />The retailer's Pride Month products went viral on social media this year, causing many people to boycott the store, CNN reports. .<br />The retailer's Pride Month products went viral on social media this year, causing many people to boycott the store, CNN reports. .<br />In response to a hostile campaign, Target removed some of its Pride Month items to ensure a safe environment for its workers.<br />In response to a hostile campaign, Target removed some of its Pride Month items to ensure a safe environment for its workers.<br />However, LGBTQ+ supporters were angered by Target's product withdrawal, saying the company let bigots win.<br />According to DA Davidson analyst Michael Baker, Target's foot traffic last quarter dipped 4.8%.<br />This was "likely a function of a mix that <br />skews too discretionary, as well as the <br />Pride merchandise issues," Baker said. .<br />This was "likely a function of a mix that <br />skews too discretionary, as well as the <br />Pride merchandise issues," Baker said. .<br />Target stores that have been open for one year or more saw sales decline by 5.4% last quarter.<br />Online sales decreased by 10.5% <br />during that same time.<br />However, Target's profit still <br />exceeded Wall Street's expectations.<br />Pre-market trading saw the <br />retailer's stock rise 8%.<br />But as of early Aug. 16, Target's stock <br />has declined 27% year over year

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