Already near a three-year low, Target shares have been hit with a series of downgrades as consumer pushback on the retailer’s Pride merchandise continues.
Target’s stock value has fallen roughly 3.1% in the last five days, after plummeting around 18.5% the last month. The retailer's market valuation has tumbled by nearly $15 billion since the controversy began, now sitting at $59.1 billion down from $74 billion, as of Friday.
The retailer, which has supported LGBTQ Pride for years, this season offered merchandise that included female-style swimsuits that have the option to "tuck" male genitalia. Other products were labeled as "Thoughtfully fit on multiple body types and gender expressions," a "Gender Fluid" mug and a variety of adult clothing with slogans such as "Super Queer" among other items.
