Target’s market cap plunges by $9 billion amid Pride clothing uproar

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Target Corp. has seen its market cap drop by billions of dollars in the aftermath of the outcry over its Pride clothing line as the retailer finds itself mired in its own Bud Light moment.

responded to the uproar by saying it would remove items “at the center of the most confrontational behavior.” Consumers said that some locations also relocated the entire Pride Collection displays to the back of the stores.

“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,”The company pointed out that it has offered products celebrating Pride Month for more than a decade, andwas one of the first major retailers to publicly state that trans women could use its female bathrooms and changing rooms.

But tensions over gender identity are running high this year as biological males who identify as women demand to be included in female facilities, sports and categories. The Anheuser-Busch brand Bud Light was hit with fierce public blowback in April after celebrating transgender influencer Dylan Mulvaney’s “365 Days of Girlhood” with personalized cans.were: a messenger bag saying “We Belong Everywhere” across rainbow colors and planets; a “Too Queer for Here” tote bag; and a “Cure Transphobia, Not Trans People” sweatshirt, according to National Review.

“Knowing that people are seeing it without explicitly seeking LGBT-related stuff is wonderful, and I’m especially happy at the thought that young closeted people will see it, and I hope that in some way they’ll feel a bit more comfortable in themselves, as we all deserve to feel,” he said.backlash. He also sells pins with messages like “Satan Respects Pronouns” and “Trans Healthcare Now.”

 

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