BusinessTarget's shares fall for the eighth time in a row, increasing its...

    Target’s shares fall for the eighth time in a row, increasing its loss to $12.4 billion

    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.

    Read Also:   Inflation in the United States: 4 expenses that families with children should rethink in 2023

    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.

    Read Also:   According to the New York Fed, the perception of inflation falls to its lowest level since 2021, a good sign

    Keep reading:

    Source: La Opinion

    This post is posted by Awutar staff members. Awutar is a global multimedia website. Our Email: [email protected]


    Please enter your comment!
    Please enter your name here

    fifteen + 9 =

    Subscribe & Get Latest News