Following Bud Light, Target loses $9 billion in market value in a week following boycott over LGBT merchandise

By Laurel Duggan

Target’s market value plunged $9 billion in one week after anger erupted over the store’s new “PRIDE” collection, which features clothing for children and babies as well as a chest-binding swim top and a “tuck-friendly” women’s bathing suit.

Social media users and conservative activists began calling for boycotts of Target following the release of their PRIDE line last week. The company was valued at $160.96 per share on May 17, at a market value of $74.3 billion; as of Thursday morning each share was valued at $139.84, the lowest in over a year, at a market value of $64.54 billion, according to MarketWatch data.

An adult bikini top available on Target’s website advertises a “light binding effect.” Another women’s swimsuit offered “tuck-friendly” coverage, and some children’s swimsuits advertised being “Thoughtfully Fit on Multiple Body Types and Gender Expressions,” according to The Associated Press.

Target removed some PRIDE items from stores following public outcry, claiming the move was in response to “confrontational behavior” from shoppers. The decision drew a fresh round of blowback, this time from LGBT activists who characterized the move as a failure to stand up for gay and transgender people.

“Target should put the products back on the shelves and ensure their Pride displays are visible on the floors, not pushed into the proverbial closet,” Human Rights Campaign President Kelley Robinson said, according to the AP. “That’s what the bullies want.”

Target was previously subject to widespread protests in 2017 following the company’s decision to allow transgender individuals to use the restroom of their choice, according to The Wall Street Journal. More than 1.3 million people signed an online petition calling for a boycott of the retail giant, the store saw its first decline in same-store sales in two years and ended up spending $20 million building single-sex bathrooms in all of its stores in response to complaints about privacy.

Target did not immediately respond to the Daily Caller News Foundation’s request for comment.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities for this original content, email licensing@dailycallernewsfoundation.org.

Image courtesy of Public domain

8 thoughts on “Following Bud Light, Target loses $9 billion in market value in a week following boycott over LGBT merchandise

  1. You’d think after the bud light fiasco, they can’t even give it away anymore, Corporate weenies would have got the message. Pushing Mental Illness is not a money making idea. It seems the honchos are stupid as rocks to think they are going to make more money by appealing to 5% of the population yet Disney is not letting up, and it looks like Target isn’t either (moving the revolting merchandise to the rear). They can all fall into the abyss of failure like Bed bath and beyond for all I care. Go Woke Go Broke

  2. You’d think after the bud light fiasco, they can’t even give it away anymore, Corporate weenies would have got the message. Pushing Mental Illness is not a money making idea. It seems the honchos are stupid as rocks to think they are going to make more money by appealing to 5% of the population yet Disney is not letting up, and it looks like Target isn’t either (moving the merchandise to the rear). They can all fall into the abyss of failure like Bed bath and beyond for all I care. Go Woke Go Broke

  3. Corporate America, you can go ” Woke “, but you’ll go broke………….

    Boycott these foolish companies, their stockholders will do the rest,
    heads should roll !!

  4. I bet that Wal Mart is a LOT smarter on this WOKE insanity. Target is not…I’ll avoid Target from now on…I halted all Budweiser related purchases. This quote, again, explains all…..idiot companies that grovel & bow (in fear) to WOKE, DEI, ESG, LGBGTQ etc…to cater to a miniscule % of your customer base? Then, anger the majority % of your customers – to where they BOYCOTT you? Insanity.

    ”….This insistence that everyone go all-in for pride cultishness, the LGBTQ-UGH crowd has taken to undermining the values that don’t fall in lockstep with it — especially Judeo-Christian values. It’s like the pride calculus in reverse :– accept everything about LGBTQeverything, and in exchange, the cult will try to destroy your values.”

      • “Unisex” bathrooms have been with us a looooooog time. The current issue is over whether multiple sexes (i.e.2) can be in the bathroom at the SAME time. How stupid is this issue ?

  5. Again, conservatives should take note… vote with your dollars. It’s the most effective statement anyone can make in support of the policies they prefer.

Comments are closed.