Target suffers $9B loss due to LGBT kids’ clothing controversy.

Target Faces Backlash and $9 Billion Loss in Value Over “Pride” Collection

Target lost $9 billion in value this week amid backlash to its new “Pride” collection, which features “gender neutral” children’s swimsuits and LGBTQ merchandise designed by a Satanist.

Target’s latest marketing plan has caused quite a stir, with consumers calling for a boycott of the liberal corporation. The “Pride” collection includes “tuck-friendly” swimsuits for girls meant to hide male genitalia and merchandise from the LGBTQ brand Abprallen, whose designer dons a “Satan respects pronouns” shirt on his Instagram page.

Similar to Bud Light’s disastrous LGBTQ ad campaign, Target’s stock has dropped 12 percent since last week, as reported by the New York Post:

“A week ago Wednesday before the controversy erupted, Target’s stock closed at $160.96 a share, giving the big-box chain a market capitalization of $74.3 billion. As of early trading on Thursday, however, shares of the company were trading off 1% at $141.76 — capping a weeklong tumble that has shrunk the ‘cheap chic’ discount retailer’s value to $65.3 billion. That amounts to a 12% drop that has shaved a whopping $9 billion off the company’s market capitalization.”

Target has since backtracked on its latest marketing plan, removing Abprallen items and moving its “Pride” collection to the back of stores in some states. In a statement to Reuters, Target said it was adjusting its marketing plans for the “safety” of its employees “given these volatile circumstances.”

Conservative commentators have been quick to criticize Target’s actions, with Tomi Lahren telling Fox News that “Target is about to get Bud Light-ed.” Rep. Nancy Mace (R., S.C.) also tweeted, “Bud light: shocks and insults their customers. Target: hold my beer.”

Target’s Response

In an internal email sent to employees Thursday, Target thanked their “frontline teams and the LGBTQ community” for the “care you’ve shown each other” as “yesterday was a very hard day for Target.” It went on to acknowledge that “today brings more reflection, pain, and the need for continued care” as the team reflects on the anniversary of George Floyd’s death three years ago Thursday.

Target’s latest marketing plan has certainly caused a stir, but only time will tell if the corporation can recover from the backlash and loss in value.