Target has lost $10 billion in market valuation over the past 10 days as the favored retailer continues to face backlash for its Pride-themed line of kid’s clothing.
Per week ago, on Wednesday, Target enjoyed a stock value of $160.96 a share, but following calls to boycott the Minneapolis retailer over its “PRIDE” collection, the worth plummeted to finish at $138.93 on Friday per share.
The nearly 14% decline in blue chip stock roughly translates to a $10.1 billion valuation loss to only $64.2 billion for Target, which has nearly 2,000 stores nationwide.
The drop marks the retailer’s lowest share price in nearly three years.
The last time the corporate saw an almost as large drop was in 2022, after stocks leveled off after unprecedented growth in the course of the COVID pandemic.
Target, which has found itself within the midst of America’s gender culture wars, moved its Pride section of some Southern stores away from the front last week after it said displays were knocked over by protesters who also confronted employees.
![Target is getting a reaction to its latest release](https://nypost.com/wp-content/uploads/sites/2/2023/05/NYPICHPDPICT000011733699.jpg?w=585)
![Most of the objection concerns clothing advertised for children.](https://nypost.com/wp-content/uploads/sites/2/2023/05/NYPICHPDPICT000011733736.jpg?w=1024)
The retailer also said it will remove items from the gathering, but didn’t specify which of them.
Amongst those who garnered probably the most attention were “tab-friendly” women’s swimsuits that allow transgender women who haven’t undergone gender confirmation surgery to cover their genitals, in addition to rainbow-themed kid’s clothing.
While many compared the conservative boycott of Target to the boycott of Bud Light – which saw its sales fall after partnering with transgender influencer Dylan Mulvaney – Texas Senator Ted Cruz doubted the response to the retailer was as effective.
Speaking on his podcast on Friday, the Republican said that while there are plenty of alternatives to Anheuser-Busch brands, the identical isn’t true of Target.
![Target said it removed some items after harassing customers in stores in the South.](https://nypost.com/wp-content/uploads/sites/2/2023/05/NYPICHPDPICT000011733739.jpg?w=1024)
![Swimwear designed for transgender people has also been at the forefront of controversy.](https://nypost.com/wp-content/uploads/sites/2/2023/05/NYPICHPDPICT000011733694.jpg?w=1024)
As an alternative, he likened the retailer to Disney, which faced backlash after coming out against Florida’s so-called “Don’t Say Gay” law last yr, but remains to be a financial giant.
“You might be indignant at Disney, but in case your kids really need to go to Disney World, it could possibly be hard to say no. There usually are not many alternatives. There’s Six Flags, but Disney World is a fairly unique offering,” Cruz said.
“There is simply one Snow White, Cinderella or Toy Story from Pixar. For many individuals, this can be a difficult product to provide up permanently.”
![Target has nearly 2,000 stores nationwide and has seen its inventory fall more than 22% in the last 10 days.](https://nypost.com/wp-content/uploads/sites/2/2023/05/NYPICHPDPICT000011733698.jpg?w=1024)
The Texas politician said efforts against Target could quickly wilt because “historically, conservatives have typically not been excellent at boycotts.”
Target CEO Brian Cornell defends LBGTQ-friendly merchandise, saying selling them is “the best thing for society.”
Target didn’t immediately return a request for comment on Sunday.