TARGET OF OUTRAGE
Retailer’s $9B hit amid fury over LGBT products
Embattled retailer Target has lost a whopping $9 billion in market cap in the week since the social media backlash over the company’s LGBTQ merchandise — and the fury has spilled into the aisles with shoppers tearing down Pride signs, badgering workers and even leaving a case of Bud Light alongside the offending items.
One MAGA-hat wearing provocateur was recently filmed ripping down a “#TakePride” sign from a clothing rack of LGBTQ apparel.
Ethan Schmidt — a 24year-old far-right Internet personality who previously drew notice for his off-color remarks — is seen tossing the rainbow-colored sign to the floor before stomping on it in the 19-second clip.
Another self-proclaimed patriot and activist, Scott LoBaido, filmed himself on Wednesday at a Target on Staten Island shouting: “Memorial Day weekend, where is the display supporting and showing homage to the men and women of the military?”
“There’s a couple of little ‘Made in China’ pieces of s--t here,” he adds, pointing to a small, three-shelf section with red, white and blue paraphernalia.
“In November, do we get a veterans display that says ‘Proud to be a veteran’? No, we do not,” LoBaido says before a Target employee approaches and asks him to stop screaming.
“I just talk loud,” LoBaido replied, going on to increase his volume: “Get rid of the kids’ s--t that doesn’t belong in here. You cater to 0.1%.
You’re going to go down like Budweiser!”
One Target shopper provided a more cheeky protest, placing a case of Bud Light in a rack promoting Pride items — a reference to the beer brand’s ill-fated partnership with trans social media star Dylan Mulvaney.
“Completed the Target display,” wrote one Twitter user after a photo was posted to the social media site.
The company on Tuesday blamed the danger to staff as one of the reasons for removing some of the Pride collection — just a week after CEO Brian Cornell dismissed the uproar, saying the products are good for business and “the right thing for society.”
Hit to stock
But Target’s bottom line has felt the brunt of the outrage, which stems from infant and children’s clothing bearing Pride messaging, along with an adult women’s “tuck-friendly” swimsuit.
On May 17, 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.
At Thursday’s close, however, shares of the company were $140.75 — capping a weeklong tumble that has shrunk the “cheap chic” discount retailer’s value to $64.9 billion.
The highly criticized “tuck-friendly” women’s swimsuits have extra fabric in the crotch area to allow trans women who have not had gender-affirming operations to conceal their private parts.
LGBTQ clothing in the children’s section include T-shirts that say “Pride Adult Drag Queen ‘Katya,’ ” “Trans people will always exist!” and “Girls Gays Theys.”