If you paid for a TeamDML Membership and would like to see every article, and see them without the ads, please click here. If you are NOT a member, or if your Membership has expired, and you would like to join TeamDML please click here.
As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by NYPost.com:
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.
The loss is a 12% drop equaling an astounding $9 billion loss off the company’s market capitalization.
On Tuesday, Target decided to remove some items from its stores and make other LGBTQ+ merchandise changes nationwide.
“Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work,” the retailer said in a statement.
Target loses $9B in week following boycott calls over LGBTQ-friendly kids clothing https://t.co/c5ow0yB1fz pic.twitter.com/4otZ54O1B1
— New York Post (@nypost) May 25, 2023
In the same week Target lost $9B in market capital, @officialpsq is now 3rd on the App Store in top shopping apps and top 25 most popular apps overall!
The American people are waking up and taking their dollars to the parallel economy
Download it today: https://t.co/knu88uihsU pic.twitter.com/wnUNuxrAky
— Michael Seifert (@realmichaelseif) May 25, 2023
To get more information about this article, please visit NYPost.com.
The Dennis Michael Lynch Podcast is available below. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
