2023-08-18 18:56:47
The Target retailer, one of the largest in the United States, is reaping the rewards of having chosen to embrace LGBT militancy during the so-called “Pride month”: for the first time in six years, a quarterly report by the company recorded a drop in sales.
The company last Wednesday released its second-quarter earnings report, detailing total sales for the three-month period ended July 29, with the record down compared to the same time in 2022.
In the quarter in question, Target accumulated a loss of 4.9% compared to its earnings in the same period of fiscal year 2022, according to information from the portal. The Christian Post.
“Given recent sales trends, the company lowered its full-year sales and earnings expectations. The company now expects comparable sales across a wide range of around single-digit declines for the remainder of the year.”
Target Corporation Chief Executive Brian Cornell dismissed the drop in sales: “Our second-quarter financial results clearly demonstrate the agility of our team and the resilience of our business model, as we saw better-than-expected profitability in in the face of weaker-than-expected sales”.
The company faced boycott requests in recent months after promoting merchandise related to LGBT militancy, such as swimsuits in the colors of the movement and other pieces designed to allow biological men who identify as trans to more easily hide their genitalia.
At the same time, Walmart – one of Target’s main US competitors – witnessed an increase in sales. In its second-quarter earnings report for this year, released on Thursday, Walmart posted a 5.4% increase from the same period in 2022.
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