According to a report from The Daily Caller, retail giant Target is being forced to lower its profit expectations for the rest of the year in the wake of its trans merch misstep.
“We continue to take a cautious approach to planning our business, and have therefore adjusted our financial guidance in anticipation of continued near-term challenges on the topline,” Brian Cornell, chair and chief executive of Target, said in the earnings report. “This approach, along with the long-term investments we’re making in our business and strategy, position us to deliver sustainable, profitable growth in the years ahead.”
From The Daily Caller:
Target lowered its sales and profit expectations for the rest of the year after its quarterly sales fell for the first time in six years, declining 5.4%, while it announced it expected its share price to clock in between $7.00 to $8.00 as opposed to the previously expected $7.75 to $8.75, according to the earnings report. The decrease in expectations follows backlash from conservatives after the company announced a Pride Month collection in May that included LGBT merchandise marketed to kids.
…
Following the initial backlash and claims of threats by Target, the retailer removed some of the LGBT-themed items from stores. Prior to the backlash, the company carried over 2,000 products in its collection for Pride Month, including books, home furnishings and clothing for both kids and adults.
“Our team continues to face an unacceptable amount of retail theft and organized retail crime,” John Hulbert, vice president and head of investor relations, said in an earnings conference call. “During the first five months of this year, our stores saw a 120% increase in theft incidents involving violence or threats of violence.”
You see this?
Target reports 1st sales slump in *6 years*
Blames it on Trans merch for kids (designed by a Satanist)
You come after our kids, we’re coming after your profitshttps://t.co/NOYNPjdcRL
— DC_Draino (@DC_Draino) August 16, 2023
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