Get WOKE, go BROKE - Target

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From the New York Post:

Target loses $9B in week following boycott calls over LGBTQ-friendly kids clothing
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.

Heh - if this had been general clothing, people would have gone Ewwww!!! but continued to shop there.
When they go after the children, people take notice and they act accordingly.

I do hope that this gives activism the bad name that it deserves.
As Dr. Thomas Sowell puts it so succinctly:


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This page contains a single entry by DaveH published on May 25, 2023 10:01 AM.

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