XPost: alt.business, alt.fan.rush-limbaugh, alt.politics.homosexuality
XPost: talk.politics.guns

Viktor Tandofsky <[email protected]> wrote in news:svj67l$1uedv$[email protected]:

Lee wrote

Target needs to go out of business. They have not learned the lesson.

Target�s market cap has fallen over $15.7 billion amid backlash to
decisions surrounding LGBTQ Pride merchandise as the stock dropped another
0.4% on Monday.

Target�s market value was over $74 billion before the Pride displays made national news, as tracked by Dow Jones Market Data Group. The retailer initially irked conservatives with Pride displays that featured items such
as assorted children�s apparel and "tuck-friendly" women's swimsuits, but
some in the LGBTQ community also became outraged when the displays were
dialed back ahead of Pride Month.

Shares fell to $126.48 when the market closed Monday after eclipsing $161
just last month. Three Wall Street firms have since downgraded the shares
on concerns over slowing sales. Target shares are just shy of a 52-week
low of $125.08.

ROGAN ROASTS TARGET, BUD LIGHT FOR LOSING BILLIONS FROM BACKLASH: 'STOP
SHOVING THIS DOWN EVERYBODY�S THROAT'

Citi analyst Paul Lejuez lowered the stock on Friday to neutral from buy
and pitted the troubled retailer against rival Walmart, which Lejuez said
would begin gobbling up market share.

Considering the competitive landscape, "We believe Walmart is likely to continue gaining market share, and Target's high exposure to discretionary sales will not serve them well in the current macro backdrop," Lejuez said
in a note.

"Despite the recent stock pressure, we cannot recommend investors buy the
stock given these dynamics and now believe the risk, reward is more
balanced, but risk is more to the downside near term," he continued.

Lejuez also highlighted Target's 13.9%-drop in store traffic the final
week in May as inflationary pressures subdued consumer spending over
Memorial Day weekend. This drop coincided with the Pride controversy
making national news.

Also last week, KeyBanc Capital Markets cut the retailer's shares to
"sector weight" from "overweight" as the resumption of student loan
payments stipulated by Congress' debt ceiling agreement poses a sizable headwind for discretionary spending for shoppers, which has an elevated discretionary sales mix and a younger, college-educated core consumer demographic.

JPMorgan Chase also downgraded Target's stock earlier this month, with
analysts citing the possibility of a decline in sales due to consumers
pulling back spending amid persistent inflation.

Target confirmed "adjustments" to the Pride merchandising plans were
underway in May after Fox News Digital learned it rolled back displays at
some of its locations. A Target insider told Fox News Digital that some southern stores were told by the corporation to move LGBTQ Pride
merchandise away from the front of their locations after customer outrage
to avoid a "Bud Light situation."

Target has said the displays were dialed back to protect employees against threats from angry customers.

https://www.foxbusiness.com/media/target-market-cap-losses-hit-15-7- billion-share-near-52-week-low-amid-woke-backlash

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)