AssetID: 52962638
Headline: UNCAPTIONED: Target's Sales Fell for First Time in 6 Years Over Pride Month Backlash
Caption: The retailer's Pride Month products went viral on social media this year, causing many people to boycott the store, CNN reports. In response to a hostile campaign, Target removed some of its Pride Month items to ensure a safe environment for its workers. However, LGBTQ+ supporters were angered by Target's product withdrawal, saying the company let bigots win. According to DA Davidson analyst Michael Baker, Target's foot traffic last quarter dipped 4.8%. This was "likely a function of a mix that skews too discretionary, as well as the Pride merchandise issues," Baker said..Target stores that have been open for one year or more saw sales decline by 5.4% last quarter.. Online sales decreased by 10.5% during that same time.. However, Target's profit still exceeded Wall Street's expectations. Pre-market trading saw the retailer's stock rise 8%.. But as of early Aug. 16, Target's stock has declined 27% year over year. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Target,Sales,Fell,First,Time,Pride,Month,Backlash,Products,Boycott,Store,Workers,Safe,Environment,Removed,Hostile,Campaign,Shop,Bigots,Community,LGBTQ+,Michael Baker
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