Aug 16, 2023

Target sales suffer after Pride month backlash

US retail giant Target saw sales fall in-store and online for the first time in years after a backlash over its Pride Month offering. Target's chief executive Brian Cornell said the decline in sales also reflected the fact shoppers budgets' are being squeezed as the cost of living remains high. The firm's decision to remove the items, which it made citing employee safety, prompted further outcry from Target customers who celebrate Pride. Mr Cornell said Target had seen sales start to pick up again in July, after the sharp drop in June. Despite the sales fall, Target shares rose more than 6% in early trade, reflecting stronger profits than investors had expected.

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