Troubles continue to mount for Target.
According to a report from Fox Business, Target is still feeling the sting of boycotts from conservative shoppers. The retail giant’s stock has hit a three-year low and was downgraded by JPMorgan on Thursday.
The stock is headed for its 10th straight session of losses, approaching $126.75.
JPMorgan downgraded the stock from “overweight” to “neutral.”
Target’s problems began after they rolled out Pride Month displays featuring “tuck-friendly” swimsuits and transgender-friendly clothing targeted at children.
From Fox Business:
Other products were labeled as “Thoughtfully fit on multiple body types and gender expressions,” a “Gender Fluid” mug and a variety of adult clothing with slogans such as “Super Queer” among other items.
“For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month,” the spokesperson told Fox News Digital. “Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and wellbeing while at work.”
“Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior,” the statement continued. “Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
More over at Fox Business:
Target shares hit three-year low, JPMorgan downgrades stock https://t.co/ZLpEZnDn78
— Fox News (@FoxNews) June 1, 2023