Washington, D.C. Newsroom, Aug 17, 2023 / 15:17 pm
Target reported its first sales and revenue decline in six years on Wednesday, with comparable sales dropping by 5.4%. Target’s decline comes after a nationwide conservative-led boycott of the store over its promotion of LGBTQ+ ideology and transgender products for adults and children during June’s “Pride Month.”
The loss in sales also led to a drop in revenue, with Target earning 4.9% less than the same period last year.
According to CNBC, Target CEO Brian Cornell attributed the decline to both inflation and “negative guest reaction to our Pride collection.”
Outrage erupted this June after shoppers discovered transgender and Pride-themed clothes and merchandise for adults and children.