'Target To Cut LGBTQ Pride Month Products From Some Stores After Backlash; Retailer Plans To Carry Full LGBTQ-Themed Assortment Online; Last Year's Customer Threats Contributed To Decline In Sales' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Target Corp. has decided not to sell LGBTQ-themed merchandise in some of its stores during Pride Month in June, following a backlash that negatively impacted its revenue last year. The company, however, plans to offer the full assortment of these products online. This decision comes after considering store-level data to identify which physical locations will not carry the products.
May 09, 2024 | 10:39 pm
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Target Corp. is adjusting its product lineup by removing LGBTQ-themed merchandise from certain stores during Pride Month due to previous backlash affecting sales, while maintaining availability online.
Target's decision to adjust its product lineup in response to backlash and its impact on sales is a strategic move aimed at balancing corporate responsibility with revenue protection. By offering the full assortment online, Target aims to cater to its diverse customer base while minimizing potential in-store conflicts. This decision is likely to have a neutral short-term impact on the stock as it addresses potential revenue loss from backlash while potentially alienating some customers.
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