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| Economy |
| Target loses $9B in week following boycott calls over LGBTQ-friendly kids clothing |
| 2023-05-26 |
| [NYPOST] Target has lost $9 billion in market value since angry social media users called for a boycott of the Minneapolis-based retailer over its rollout of the "PRIDE" collection featuring LGBTQ-friendly clothing for children. A week ago Wednesday before the controversy erupted, Target’s stock closed at $160.96 a share, giving the big-box chain a market capitalization of $74.3 billion. As of early trading on Thursday, however, shares of the company were trading off 1% at $141.76 — capping a weeklong tumble that has shrunk the "cheap chic" discount retailer’s value to $65.3 billion. That amounts to a 12% drop that has shaved a whopping $9 billion off the company’s market capitalization. Target said on Tuesday it was removing some items from its stores and making other changes to its LGBTQ+ merchandise nationwide ahead of Pride month after intense backlash from some customers who confronted workers and tipped over displays. "Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work," Target said in a statement on Tuesday. |
| Posted by:Fred |
| #13 I see. It is an attempt to blame the store looting on the GROQMER+ H8TRS! Good luck with that. Guess what isn't being looted. |
| Posted by: swksvolFF 2023-05-26 17:12 |
| #12 Cracks me up that a social clic which self congratulates itself on its fashion and cuisine are having to do a purity test by drinking shit corporate beer and cheap retail store clothes. LOL look at me..look at me...you are the corporate trash now! |
| Posted by: swksvolFF 2023-05-26 16:32 |
| #11 #8, it's about what Orwell said. The left's project is to make you deny reality and accept the unacceptable as a means of diminishing and humiliating you. They have allotted a budget for that in the corporate boardrooms, but the proles are reacting in a way that's knocking the crap out of their budgetary assumptions of what the project would cost. |
| Posted by: M. Murcek 2023-05-26 16:12 |
| #10 Ref # 7 above The British Colonial Diplomatic Corps was expert in the overt and covert management of the natives, through relatively efficient management of the economic system, but covertly stoking the regional differences amongst the elite aristocracy of competing tribes, so they were always triangulating the parties to prevent unified reaction to their colonial rule. Increasingly the Middle Kingdom seems to demonstrate similar behavior here. |
| Posted by: NoMoreBS 2023-05-26 14:35 |
| #9 (Insert Big Box image here!) |
| Posted by: DooDahMan 2023-05-26 14:30 |
| #8 Came back from Ace's, and there is mention like in the other post I noticed, this drop is not about endcapping and free-sampling child p*orn, but about the rampant looting policy of these stores and the municipalities they service. Next week would show fallout of promoting kiddie diddling among the polite people who pay. As for the cock-tuckers, why would they buy this cheap, and face it, ugly designed clothing? Shit looks like a frog gone finger painting. |
| Posted by: swksvolFF 2023-05-26 14:05 |
| #7 /\ Target, Walmart, HD, Lowes....why there will likely never be a shooting war with China. |
| Posted by: Besoeker 2023-05-26 14:02 |
| #6 For once, the right people are paying for their mistakes. Similarly Disney, AB, etc. They are being forced to calculate whether they lose more by angering their customers in America or disobeying their Mandarin masters in Beijing. Think about it: Most of Target's merchandise comes from China, having been cheaply produced by slave labor. Then they mark it up and sell it to us. Cut that supply chain and Target is out of business. So they sell, or at least try to sell, what they're told. So too with Disney. They get merchandise from China but, also, they distribute their movies and TV shows to the vast Chinese market. If their Mandarin masters decide that certain movies are not suitable for the Chinese market, Disney loses billions of dollars. Disney then, must decide which market is more important. They want to keep both markets so, instead of returning to the methods that Walt taught them, they vilify DeSantis. We'll see if that can work for them or not. The problem is that so many Americans have already succumbed to the propaganda and don't know any better. |
| Posted by: Abu Uluque 2023-05-26 12:48 |
| #5 ^ But their ESG is UP! |
| Posted by: Frank G 2023-05-26 12:21 |
| #4 Generally, losing $9 bil in one week is not something that stockholders approve of. |
| Posted by: JohnQC 2023-05-26 11:45 |
| #3 A fine example of the power of the vote. |
| Posted by: Skidmark 2023-05-26 09:14 |
| #2 The elites are infuriated with us proles for rejecting their latest arbitrarily designated victim class of I'm sure they are having meetings about how to punish us for that impudence. |
| Posted by: M. Murcek 2023-05-26 07:20 |
| #1 This is important because the tax code encourages making a lot of top management's compensation in stock. If the stock drops, you do hit senior management right in the pocketbook. For once, the right people are paying for their mistakes. Similarly Disney, AB, etc. |
| Posted by: Tom 2023-05-26 07:16 |