Skip to comments.Target's market cap slumps by $15 BILLION amid backlash over 'tuck-friendly' transgender swimsuits and Pride clothes for kids, as analysts say retail giant is hemorrhaging customers to Walmart
Posted on 06/09/2023 11:05:57 PM PDT by knighthawk
Target has shed $15 billion from its market cap, as outrage over its decision to stock 'tuck-friendly' transgender bathing suits and Pride merchandise grows.
On Friday, the Minneapolis-based firm's shares slipped by another 3.26 percent by close of trading. Target's share price now sits $126.99-per-share, down from a high of almost $162-per-share last month.
Before the becoming engulfed in the controversy Target's market value stood at over $74 billion, according to Dow Jones Market Data Group. Its market cap - calculated by multiplying the number of shares by the price per share - now sits at just $54 billion.
(Excerpt) Read more at dailymail.co.uk ...
Walmart has better prices for MOST identical products.
Stockholders will eventually go and ask who made this decision and the CEO will try to bluff...saying it was a lesser figure who designed the campaign.
Stockholder meeting (yearly) is set for 14 June. I expect fallout to occur and the CEO is dismissed within 30 days after the meeting.
Whether they double-down with the new boss? Unknown.
It probably was their vp of marketing.
Target clothing is thin, cheap junk sold at high prices.
I suspect the VP was briefed, but I think it went at least one level below the VP who designed this. Whoever it was....they had insider knowledge with various other companies. Based on the amount of time you need to design and mass-produce, I’m guessing this decision was made in the fall of 2022.
Not to excite anyone, but Christmas isn’t that far away, and I’d expect this trend to be in the line-up for the holidays. So prepare yourself for phase two of this in five months.
Now I auppose it is time for Walmart to announce its own transsexual celebrations and lines of products for perverts and mentally disturbed folks.
Walmart has better prices for MOST identical products.
True on the pricing between Wallmart & Target.
Both are carrying bloated stock valuations, with Wal-Mart being the slightly better investment.
Meanwhile PetSmart’s woke display of queer pet accessories remains pretty much the same as when they set it up.
Ain’t nobody putting that deviant crap on their critters.
I wouldn’t shop at Target if they weren’t giving their crap away... Eff the groomers.
I will not shop at TarGay anymore. If I had one of those cars with a really loud sound system I would park in the parking and play the Boycott Target song.
Every annual meeting I’ve seen recently has been a virtual meeting.
Are they more effective/less effective than an in-person meeting?
Will be interesting to see what is on the clearance racks come new years.
I found this to be one of the sillier moves, offend a noticeable percentage of your customers to carry a line of clothing that very few people are interested in. Seriously, how many customers are interested in “tuck friendly” womens(?) swim wear?
Wally World’s no better.
Then the celebration of Christmas will revert to “the reason for the season”.
If you want to spoil the kiddies with a bunch of junk from China, do it on THEIR birthday.
Flame away. I’ll be a great-grandfather soon, and have broad shoulders.
What I’ve noticed (for past decade)....these stockholder meetings have gone in wild directions, and occasionally....some group has gotten measures up for a vote, which the board/CEO folks weren’t expecting. Some of these were destructive to the company service/brand....some were correcting bad decisions by the board/CEO.
Covid opened up the door for more virtual company meetings, and avoiding the confrontational situation. But you still have the threat that someone will get shares/votes, and create a problem in the path of a company.
I will say this...when you have a investment-fund company that owns 5-percent of a companies shares...they can find the votes to manipulate who gets on the board (Fox might be an example of that). That one person can infect things like lawyers hired for HR or finance, and create a path where a commercial company is no longer independent, but part of the investment company mentality.
If you had some vast decision made to trend up a certain style of clothing (say ‘pride’), and force twenty fashion stores to order the product, I might get a national trend going.
At the same time, if you had a pallet arrive at a store in some southern town, with 300 ‘pride’ t-shirts, and fewer than 20 sell the first week of June, and on 1 July...I still have 200 t-shirts unsold....what do you think happens to the 200? Discount by 50-percent, and a week later....piled into a box sent to a freighter, and shipped to Africa to be sold for 10-cents a shirt?
Thank you for that thorough explanation.
I sat and watched a German documentary on fashion lines at stores, and how there is a ‘cycle’ that exists. Stores have a written date on which style ‘x’ (say summer fashion)...must end, and there’s a rack area with 30-percent off. At the end of that 4-week discount period...it gets dragged to a container box, packaged-up and sent to a depot.
The depot ends up in bid-situation....some boxes might go to cheaper places (like Eastern Europe, Mexico, or Brazil). The cheapest bids usually end up in Africa...where some guy ends up with a whole pallet of unsold attire.
I can see some Nigerian guy standing there with eight of such pallets....all ‘pride’ stuff, and trying to convince locals that ‘pride’ means something entirely different from Trans-stuff.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.