Target’s decision to feature LGBT merchandise geared toward children could have serious negative consequences for the company.
The retail company’s stock prices plunged by 3.66 percent on Tuesday, according to Fox Business.
The plunging value of its stock places Target on its biggest losing streak since November 2018.
Wednesday’s price of $131.69 was the lowest value of Target stock since 2020.
Two weeks proved enough to shave off $12 billion of the retail giant’s market cap this month.
Target lost $12B in 14 days. “Get woke, go broke” is no longer just a slogan. pic.twitter.com/Ehxrv3GLpi
— End Wokeness (@EndWokeness) May 31, 2023
The company’s misfortunes have led some to identify Target as another Bud Light — a major American brand that has alienated itself from conservative Americans with a warm embrace of progressive leftism.
Bud Light has wrought disaster for the brand after a decision to partner with transgender influencer Dylan Mulvaney.
An impromptu boycott of Target began in response to the company’s decision to feature merchandise geared toward children in LGBT pride month sections of stores.
The merchandise included swimsuits designed for “tucking” — a practice in which transgender males conceal the outline of their genitalia to appear female.
The sections were subsequently moved in some stores in the southern United States, with critics of the company suggesting that the conservative boycott of Target led to the change in policy.
🚨 Target’s newly released “LGBT Pride” collection includes “tuck-friendly” wear and rainbow-colored onesies, in the same section as pride attire for infants and children, stirring the original controversy. pic.twitter.com/lGGls4PGne
— Upward News (@UpwardNewsHQ) May 23, 2023
Target went on to cite supposed “threats” toward store employees as cause for relocating LGBT pride sections in some stores.
“For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month,” a company representative told Fox.
“Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work.
“Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
The company’s involvement in a leftist culture war — and subsequent decision to downplay its support of LGBT ideology — has led some on the left to organize their own boycott of Target, according to Fox News.
This article appeared originally on The Western Journal.