Target is still taking heat on the front line of the nation’s culture wars.
they believe “share loss could accelerate” due to “consumer pressures and recent company controversies.”
Economic struggles rose amid calls for boycotts of Target in mid-May following their pride merchandise rollout, which included clothing for babies and children, as well as female-style tuck-friendly swimsuits for transgender customers. I think there’s a reason for the saying go woke, go broke," said EJ Antoni, who is an economics research fellow at the Heritage Foundation. "The fact of the matter is these are not profitable decisions because these are not decisions which the vast majority of American consumers agree with."When you lose $11 billion of market cap, there’s a lot of unhappy cowboys out there. They’re called your investors," said O'Leary.
Corporations don’t exist to push far left social policy. They exist to return value to their shareholders," said Will Hild, who is the executive of Consumers' Research. "The directors and executives of those companies have a legal duty called a fiduciary duty to pursue profits not far left progressive social change."
Critics of Diversity, Equity and Inclusion programs say companies are being forced to implement those policies through immense pressure from what they call “woke” investors like BlackRock.
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