Target Loses $9B In Week From Boycott Over LGBTQ-Friendly Kids Clothing
Chain Loses $9B In Week From Boycott Over LGBTQ-Friendly Kids Clothing
View Source | May 25, 2023 12:45 pm
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- 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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