- 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.
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Target Loses $9B In Week From Boycott Over LGBTQ-Friendly Kids Clothing
Chain Loses $9B In Week From Boycott Over LGBTQ-Friendly Kids Clothing
FILE - A worker collects shopping carts in the parking lot of a Target store on June 9, 2021, in Highlands Ranch, Colo. Target is removing certain items from its stores and making other changes to its LGBTQ merchandise nationwide ahead of Pride month, after an intense backlash from some customers including violent confrontations with its workers. (AP Photo/David Zalubowski, File)
