The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on May 28, 2023, 06:57:20 pm
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Target loses $10B in 10 days as stocks fall following boycott over LGBTQ-friendly kids clothing
By Ronny Reyes
May 28, 2023 1:01pm
Target has lost $10 billion in market valuation over the last 10 days as the popular retailer continues to face backlash over its Pride-themed clothing line for children.
A week ago Wednesday, Target enjoyed its stock value at $160.96 a share, but following the calls to boycott the Minneapolis-based retailer over its “PRIDE” collection, the value plummeted and closed Friday at $138.93 a share.
The more than 22% drop in value for the blue chip stock roughly translates to a $10.1 billion loss in valuation to just $64.2 billion for Target, which has nearly 2,000 stores nationwide.
The plummet stands as the retailer’s lowest stock price in nearly three years. The last time the company saw a drop nearly this big came in 2022 after the stocks equalized following an unprecedented surge during the COVID pandemic.
Target, which has been caught in the middle of America’s culture wars over gender, moved its Pride section in some Southern stores away from the front last week after it said displays were knocked over by protesters, who also confronted workers.
more
https://nypost.com/2023/05/28/target-loses-10b-following-boycott-calls-over-lgbtq-friendly-clothing/
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Good. Hope it goes lower.
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Target is right next to where I get groceries. I did a quick drive by and their parking lot appeared to be full. I didn't really see a reduction in shoppers.
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Losing 10 Billion in less than 2 weeks is a hard hit,I don't care who you are.
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Losing 10 Billion in less than 2 weeks is a hard hit,I don't care who you are.
A quarter of their value... If this keeps up, they will be closing stores in a month.
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That's awesome. It's time for there to be consequences for this kind of garbage.
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A quarter of their value... If this keeps up, they will be closing stores in a month.
I hope they go flat broke! And they can take INBEV with them!
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A quarter of their value... If this keeps up, they will be closing stores in a month.
@roamer_1
While I will admit to having dozens of dollars in savings,I am not a financial wizard OR a financial lizard,but ANY publicly-traded corporation that loses a quarter of their value in less than two weeks is in DEEP doo-doo.
I have a feeling their stockholders are less than thrilled by this.
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That's awesome. It's time for there to be consequences for this kind of garbage.
@Free Vulcan
Not a religious man,but I am going to throw in a BIG "AMEN!" on that one!
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I hope they go flat broke! And they can take INBEV with them!
That's right, @Bigun .
In the country, it is often a thing to hang coyotes on fence posts - As it DOES tend to keep the living ones away... Makes for a good example of what's gonna happen to em... Might be a thought.... :laugh:
Get woke, go broke! FAFO!
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@roamer_1
While I will admit to having dozens of dollars in savings,I am not a financial wizard OR a financial lizard,but ANY publicly-traded corporation that loses a quarter of their value in less than two weeks is in DEEP doo-doo.
I have a feeling their stockholders are less than thrilled by this.
Oh HECK yeah, @sneakypete ... This very much spells the end of stakeholder corporatism...
Stockholders will be out for blood. Heads will roll. Because in the end, a company is for making and selling stuff... And stocks are for making money off of that process. That's how it works. Woke acolytes cannot change that - and if they are in the way of that (to the tune of BILLIONS now), well something is quite naturally gonna change.
This is SUCH a good thing!
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Oh HECK yeah, @sneakypete ... This very much spells the end of stakeholder corporatism...
Stockholders will be out for blood. Heads will roll. Because in the end, a company is for making and selling stuff... And stocks are for making money off of that process. That's how it works. Woke acolytes cannot change that - and if they are in the way of that (to the tune of BILLIONS now), well something is quite naturally gonna change.
This is SUCH a good thing!
@roamer_1
AND......,it's about damn time for things to start happening that cheer me up.
Not that I expect the Board members of target to suffer personally. The Billionaire Boys Club that is dedicated to destroying America will happily reimburse them for their losses,and give them bonuses before sending them off to destroy another corporation and put working class people out of work.
It is ALWAYS the poor working class that suffer the most from these Communist brain farts.
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@roamer_1
AND......,it's about damn time for things to start happening that cheer me up.
Not that I expect the Board members of target to suffer personally. The Billionaire Boys Club that is dedicated to destroying America will happily reimburse them for their losses,and give them bonuses before sending them off to destroy another corporation and put working class people out of work.
It is ALWAYS the poor working class that suffer the most from these Communist brain farts.
@sneakypete
Sure and that's true... But NOBODY is gonna bail out billions in losses. That's what makes this train wreck so spectacular and so deadly. ALL corporations are on notice, and believe me, none of them want to be the next Butt Light, or Target, or Disney...
Get woke, go broke is now written in blood on stone.
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Does anyone remember K-Mart?
When confronted over Rosie O'Donnell's talk show ambush of Tom Selleck over guns (Selleck was there to plug a movie) and told by gunowners that they'd be boycotted if they didn't ditch Rosie, they didn't ditch Rosie.
At the time, K-Mart sold more firearms than any other retailer in the US.
That changed fast, and the parking lots got real empty.
The rest is history, but people don't learn from history.
Just Don't Piss Off Your Bread and Butter Customers, especially to cater to people who don't use your products, anyway.
JC Penney
Bud
Target
Hello??? Anyone out there in MBA land paying attention yet?
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Not just Target, but Kohl's, as well. **nononono*
End Wokeness
@EndWokeness
Kohl’s is pushing LGBTQ Pride for literal babies
(https://pbs.twimg.com/media/FxP8K1LWAAQVMdg?format=jpg&name=360x360)
6:34 PM · May 28, 2023
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Does anyone remember K-Mart?
When confronted over Rosie O'Donnell's talk show ambush of Tom Selleck over guns (Selleck was there to plug a movie) and told by gunowners that they'd be boycotted if they didn't ditch Rosie, they didn't ditch Rosie.
At the time, K-Mart sold more firearms than any other retailer in the US.
That changed fast, and the parking lots got real empty.
The rest is history, but people don't learn from history.
Just Don't Piss Off Your Bread and Butter Customers, especially to cater to people who don't use your products, anyway.
JC Penney
Bud
Target
Hello??? Anyone out there in MBA land paying attention yet?
While it's nice to think that conservatives killed K-Mart the fact is they were already committing corporate suicide by not competing well against Walmart and Target nor keeping up with the online sales trend...buying the boat anchor Sears really hastened their decline too. I think a lot of the failure was instigated by Lambert for his own personal profit. The Rosie crap was in 1999 but Kmart kept selling guns for 15 years after.
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While it's nice to think that conservatives killed K-Mart the fact is they were already committing corporate suicide by not competing well against Walmart and Target nor keeping up with the online sales trend...buying the boat anchor Sears really hastened their decline too. I think a lot of the failure was instigated by Lambert for his own personal profit. The Rosie crap was in 1999 but Kmart kept selling guns for 15 years after.
Actually, KMart is still around. Just not around here anymore. I was on their website sometime last fall... IIRC
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KMart is where I went for goods... Shoes especially, more than anywhere till they were gone.
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Actually, KMart is still around. Just not around here anymore. I was on their website sometime last fall... IIRC
Kmart has been long gone in this area. I didn't realize that they were still around.
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REVEALED: Target's VP of brand management is treasurer at LGBTQ group that pushes school districts to allow children to secretly change gender: Company donated $2.1 million to organization
Carlos Saavedra, 43, is Target's vice president for brand management and also volunteers as a director at GLSEN
GLSEN said teachers should keep trans and nonbinary students' gender identities confidential, including from parents
The backlash to Target's Pride collection comes after Bud Light was boycotted over its partnership with trans influencer Dylan Mulvaney
By Lewis Pennock For Dailymail.Com
Published: 13:08 EDT, 29 May 2023 | Updated: 13:08 EDT, 29 May 2023
A marketing executive at Target also serves as the treasurer of a LGBT organization which receives millions of dollars from the retailer and advocates allowing trans and nonbinary school students to keep their gender identity secret from parents.
Carlos Saavedra, 43, is Target's vice president for brand management and also volunteers as a director at GLSEN, which supports LGBTQ youth in schools. ... Rest of story at Daily Mail (https://www.dailymail.co.uk/news/article-12136697/Target-executive-treasurer-LGBTQ-group-received-2-1M-retailer.html)
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Actually, KMart is still around. Just not around here anymore. I was on their website sometime last fall... IIRC
I think Sears has a website too but that doesn't mean they are the old K-Mart or Sears, the shyster that crashed both to make a huge profit probably sold the name in the bankruptcy,. Lots of defunct businesses names were sold and those who bought it sell crap products trading on what used to be a good name. You can get a Montgomery Wards catalog but Monkey Wards: Defunct: June 2001; 21 years ago (original company)
Fate: Bankruptcy in 2000; full liquidation in 2001; namesake retailer launched in 2004 after purchase of trademarks.
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I think Sears has a website too but that doesn't mean they are the old K-Mart or Sears, the shyster that crashed both to make a huge profit probably sold the name in the bankruptcy,. Lots of defunct businesses names were sold and those who bought it sell crap products trading on what used to be a good name. You can get a Montgomery Wards catalog but Monkey Wards: Defunct: June 2001; 21 years ago (original company)
Fate: Bankruptcy in 2000; full liquidation in 2001; namesake retailer launched in 2004 after purchase of trademarks.
I dunno... It's been nearing a decade since they closed here... but I went looking a while back, maybe a year or two or three ago - To see if I could find one close by... At the time I was planning to go to the races or the hot rod show over in Spokane, and I was hoping to find one over there to buy from, since I was going that way...
At the time they still had bricks and mortar, though only one east of the Mississippi, somewhere down in Cali... Seems they were still around back east - Not many, maybe 20 or 30 stores, in the South and rust belt mainly... Dunno about now.
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REVEALED: Target's VP of brand management is treasurer at LGBTQ group that pushes school districts to allow children to secretly change gender: Company donated $2.1 million to organization
Carlos Saavedra, 43, is Target's vice president for brand management and also volunteers as a director at GLSEN
GLSEN said teachers should keep trans and nonbinary students' gender identities confidential, including from parents
@mountaineer
Say WHAT????
How the hell would that even be possible. Your daughter getting a crew cut or your son wearing a TuTu to school SHOULD be all the evidence you need.
Carlos Saavedra, 43, is Target's vice president for brand management and also volunteers as a director at GLSEN, which supports LGBTQ youth in schools and also volunteers as a director at GLSEN, which supports LGBTQ youth in schools. ...
Kinda makes you wonder who he had to blow to get that job,doesn't it?
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They're not promoting equality, they're promoting perversion and pedophilia. But carry on.
LGBTQ+ activists call for new strategies to promote equality after Target backlash
Associated Press | Tuesday, May 30, 2023 7:33 a.m.
RICHMOND, Va. — Following Target’s announcement last week that it removed products and relocated Pride displays to the back of certain stores in the South, activists in the LGBTQ+ community are calling for new campaigns to convince corporate leaders not to cave to anti-LGBTQ+ groups.
“We need a strategy on how to deal with corporations that are experiencing enormous pressure to throw LGBTQ people under the bus,” said California state Sen. Scott Wiener, D-San Francisco, a member of the LGBTQ legislative caucus.
“We need to send a clear message to corporate America that if you’re our ally — if you are truly our ally — you need to be our ally, not just when it’s easy but also when it’s hard,” he said. ...
“Now’s not the time to back down,” said Brian K. Bond, executive director of PFLAG, an organization founded in 1973 to advocate for LGBTQ+ people and their families.
“I think both business and us as citizens need to look within ourselves into new strategies. The old models aren’t necessarily working,” he said. ...
More (https://triblive.com/news/world/lgbtq-activists-call-for-new-strategies-to-promote-equality-after-target-backlash/)
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When you try to boost sales by catering to the .01% and at the same time alienating at least 50% of your customers, that's some powerful liberal math right there.
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When you try to boost sales by catering to the .01% and at the same time alienating at least 50% of your customers, that's some powerful liberal math right there.
And we thought Million Man Math was whack!
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Perspective: The power of parents
Boycotts of Target and other companies show parents can wield power in the marketplace. And it started with schools
By Emily Zanotti
Jun 9, 2023, 11:00pm EDT Millennial mothers have been looking to cut our Target spending for years — and it turns out, it wasn’t nearly as difficult as we thought.
Target just had to make just one decision and around $13 billion in market value disappeared practically overnight, leaving American families (and perhaps Walmart) just a little bit richer.
Conservatives have been struggling to find a foothold against corporate wokeism, the injection of politics and social issues into business. But the past two months seem to suggest the tide is turning — dramatically. ...
More than that, though, it seems the lockdowns revealed to parents just how little they knew about what their kids were being exposed to online or told during the school day, when they’re under complete control of some teachers, administrators and others who are increasingly aggressive about pushing political agendas. ...
Entire article at Deseret News (https://www.deseret.com/2023/6/9/23751056/target-bud-light-boycott-parents-power-woke-companies?utm_source=twitter&utm_medium=dn-social&utm_campaign=twitter&utm_content=deseretnews)