By the close of this Tuesday, the retail chain reported that shares fell another 3.66% increasing their loss to $12.4 billion, this represents a serious problem in front of its shareholders.
According to data collected by Dow Jones Market Data Group, the current drop in Target shares is the eighth in a row with a $2.4 billion cut in capitalization, when in the middle of this month the market value reached $74,000 million dollars.
The shares were valued at $133. Apparently Target’s problems began after the retailer decided to celebrate LGBTQ Pride again this month. with some items in your store that were not well received by your customers.
The innumerable criticisms and threats from your buyers towards your employees made the chain remove some of the products from the marketnot only from the shelves but also from the online shopping website.
Despite the fact that Target has celebrated Pride month for more than a decade, this year according to its spokesperson “since we introduced the LGBTQ collection, we have experienced threats that affect the sense of safety and well-being of our team members at work,” he said.
Probably, this situation influenced the behavior of the shares in the market, as has already happened with other brands and companies. Given these volatile circumstances, we are making adjustments to our plansincluding removing items that have been at the center of major confrontational behavior,” Target said in a statement.
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Source: La Opinion
