NEW — Target Posts First Quarterly Revenue Miss In Six Years, Citing Inflation and Consumer Boycotts
“Target CEO Brian Cornell pointed to macro pressures including inflation for tempering sales but also ‘negative guest reaction to our pride collection’…The last time Target’s… pic.twitter.com/j7beojNROF
— Chief Nerd (@TheChiefNerd) August 16, 2023
Target Sales Dipped in Last Quarter Due to Pride Backlash
Target suffered a significant drop in third quarter sales after consumers rebelled against the retailer for its scandalous LGBT-themed merchandise.
“As we navigate an ever-changing operating and social environment, we are applying what we learned,” Brian Cornell, Target’s longtime chief executive, told reporters on a call. “Multiple economic crosscurrents are putting pressure on consumers.”
Sales dipped in June after the Target rolled out its Pride collection, which featured pro-gender transition clothing such as a “tuck-friendly” swimsuit to obscure male genitalia and children’s items from a brand that sells Satanist-inspired products.
Target was fully aware of brand Abprallen’s Satanist-inspired merchandise, some of which glorifies violence against alleged “transphobes,” when it approved the collaboration.