Target’s chief growth officer Christina Hennington told Yahoo Finance that Target was going to have to be more circumspect about the way it celebrates Pride Month in the future.
Target’s quarterly sales fell for the first time in six years, according to an earnings report released Wednesday. The company featured a Pride Month collection that included LGBT merchandise marketed to kids in May.
“We’ll have a slightly more focused assortment and will evolve our store and digital presentations,” Hennington said Wednesday. “We’re going to reconsider the mix of our own national brands with our external partners. And so…you’ll see us celebrate these heritage moments but with these modifications.” (RELATED: Rachel Levine Praised Gender Clinic That Wants To Call Women ‘Egg Producers’ As ‘Inspiring’)
Former Target Vice Chairman Gerald Storch told Fox News on Thursday that the company’s Pride Month stance contributed at least 20% to the sales slump it has suffered since June.
Target’s sales are cratering https://t.co/i4jl9zK21e
— Daily Caller (@DailyCaller) August 16, 2023
“It’s certainly impacted them. There’s no doubt about it,” Storch said of Target’s Pride merchandise. “But I would say it’s probably 20% of the [5% decline]. Not the main part of it.”
Target announced its “Pride Collection” in May, which included LGBT-themed onesies in newborn sizes and rainbow socks for kids. After backlash, the store removed some of its merchandise from the front of its stores. Target’s market value lost $9 billion in one week after unveiling the collection.