(ReclaimingAmerica.net) – Retail giant Target has released its deteriorating sales figures, admitting it has been hit hard by the conservative boycott caused by its promotion of transgenderism earlier this year.
In the spring, Target unveiled its blatant transgenderist Gay Pride month collection, which featured swimsuits encouraging boys to “tuck away” their testicles and girls to “tape” their breasts.
Target’s LGBT merchandise also featured multiple children’s clothes and other items with transgenderist slogans and symbols.
The displays of the pro-trans products added to conservative Americans’ fury towards the retailer, leading to a widespread boycott.
According to the second quarter figures Target released Wednesday, the boycott has largely worked.
The company revealed its sales decreased by 5.4% compared with the same quarter of 2022, meaning it registered its first quarterly decline in six years, Breitbart News reports.
The data also shows Target’s online sales collapsed by 10.5% year-on-year, and in-store traffic was down by 4.8%. The average volume and value of in-store transactions also decreased.
The company management admitted the widespread backlash over its transgender promotion hurt its sales – which it described as “the strong reaction to this year’s pride assortment.”
“Traffic and top-line trends were affected by the reaction to our pride assortment, which launched in the middle of May,” commented Michael Fiddelke, Target’s Chief Financial Officer.
The report points out that another high-ranking executive acknowledged that the company made a mistake with its Gay Pride merchandise.
“Our goal is for our assortment to resonate broadly and deliver on the target brand promise,” said Christina Hennington, Target’s chief growth officer.
“In this case, the reaction is a signal for us to pause, adapt, and learn so that our future approach to these moments balances celebration, inclusivity, and broad-based appeal,” she added during a conference call discussing the quarterly financial results.
Even though its sales declined in the second quarter, Target reached better profits than expected, as its earnings per share stood at $1.80, compared with a Wall Street projection of $1.40.
The retailer boosted its profits by increasing some prices and slashing markdowns and inventory costs.
Nevertheless, the boycott and the weaker sales have led Target to lower guidance for the rest of 2023, as it is projecting a full-year profit of $7-8 a share, down from $7.75-8.75 per share estimated earlier.
A company official said Target will “pause, adapt, and learn” after many customers rejected this year’s promotion of transgender ideology. https://t.co/1HeR5c6OBU
— Breitbart News (@BreitbartNews) August 16, 2023