Boycotting stores that openly support LGBTQ+ rights seems to be a growing trend for conservatives, and now it’s revealed that one store has made a significant financial loss because of them. Will this have an affect on their future pride ranges?
A Stunning Financial Miss
In a stunning turn of events, retail giant Target Corporation has reported second-quarter earnings that fell significantly short of expectations.
A Closer Look at the Numbers
The company’s revenues of $24.77 billion fell short of its projected $25.16 billion.
CEO Blames Pride Gear Protests
In a surprising revelation, Target CEO Brian Cornell attributed part of the company’s financial setbacks to the boycotts that occurred due to their pride range of clothes for kids.
An Unexpected Outcome
The idea was intended to show support for LGBTQ+ rights but came under fire when its stores were targeted by right-wing activists.
Negative Impact on Sales
Cornell highlighted that the company’s loss of sales marked the first decrease since 2016.
Biggest Digital Sales Loss In Target’s History
Other sales experienced weakness, while digital sales plummeted by a staggering 10.5 percent – the worst performance in the metric’s history.
Pride’s Toll on Profits
The financial impact of the Pride gear controversy was described by analysts as being, “caught in the middle of these culture wars in a way that did seem to impact sales.”
Backlash and Outrage
Target’s decision to market Pride gear to children sparked outrage, leading to boycotts and angry social media campaigns.
Customers expressed their concerns, leading to a wave of videos showcasing their dismay that even involved protestors destroying the merchandise in certain stores.
No Stone Left Unturned
Conservatives targeted Target and other companies that were accused of embracing social justice themes in their marketing strategies, including Starbucks.
Corporations like Target, Ben & Jerry’s, Chik-Fil-A, Skittles, and even the L.A. Dodgers were accused of embracing “woke” culture to attract new customers and fans.
The Boycott Strategy
The boycotts that started from a partnership between Bud Light and a transgender social media influencer sparked a growing trend for right wing groups.
The Debate Rages On
Some might argue that it’s not about the money and Target are standing up for what they believe in, while others argue it’s a publicity stunt to make more sales.
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Featured Image Credit: Shutterstock / Kseniia Perminova. The people shown in the images are for illustrative purposes only, not the actual people featured in the story.