A series of bad decisions can have long-lasting and devastating consequences.
That’s the lesson now being learned by one major retailer that decided to go all-in on woke extremism.
And now Target thought their troubles would end after Pride Month. But the company’s issues are here to stay with this latest bit of news.
Target’s decision to pander to woke extremists has had devastating consequences.
A divisive and ill-conceived move
The company’s woes started in May, when a few keen social media users noticed that some of the retail chain’s so-called “Pride” items were designed by British designer, and self-described Satanist, Eric Carnell, and his company, Abprallen.
To make matters worse, at the same time, the company also prominently displayed a “tuck-friendly” swimsuit for biological males who identify as female.
There were a slew of additional objectionable items on prominent display in stores.
Reaction was fierce and overwhelmingly negative with a flood of calls to boycott the company from prominent conservatives.
That all led to a 14% drop in stock value and a $10.1 billion loss after just a week.
The ripple effect continues and it’s not good news for Target
If that wasn’t a huge wake-up call for the company, it may yet get another opportunity to see the light.
Target’s quarterly sales just fell for the first time in six years, but that could be peanuts compared to some brewing legal action.
Steven Miller, former adviser to former President Donald Trump, and his legal organization, are now suing Target.
The group claims that the company tanked shareholder value and then lied about their monitoring efforts to prevent this from happening.
“Target’s board of directors betrayed both Target’s core customer base of working families and its investors by making false and misleading statements concerning Target’s environmental, social and governance (ESG) and diversity, equity and inclusion (DEI) mandates that led to its disastrous 2023 children-and-family themed LGBT Pride campaign,” the lawsuit claims.
The suit was filed on behalf of investor Brian Craig.
Craig spent $50,000 for 216.50 shares of Target stock in April 2022, but the value declined by nearly half to only $28,896 by June 14, 2023 in the middle of the company’s “Pride Month” fiasco.
The lawsuit contends that “Target led shareholders to unknowingly support Target’s board and management in their misuse of investor funds to serve its divisive political and social goals — and ultimately lose billions. The company continued the LGBT-Pride campaign and continues to sell products associated with the campaign, causing further damage to Target’s stock price.”
Gene Hamilton is Vice President and general counsel of American First Legal, the organization that filed the suit and said in a statement, “Federal law requires publicly-traded corporations to provide certain information to shareholders in their proxy statements that allow those shareholders to make informed decisions. As alleged in our complaint, Target failed to execute its duty to its shareholders.”
The company’s market value is now $14 billion less than it was before the Pride promotion.
Here’s to hoping what’s going on with Target serves as a warning to other companies considering selling out their customer base and investors in the name of appeasing the woke outrage mob.
US Political Daily will keep you updated on any developments to this ongoing story.
