After all, the company has been offering products to celebrate Pride Month for more than a decade. It is likely that recent events will have an impact on Target's sales, but I personally do not expect it to be permanent or overly significant - at least not to the extent that it justifies a drop in market capitalization of more than $14 billion.

The company faced harsh criticism and removed certain offers from its stores in response, which also caused an uproar among LGBTQ supporters.Ĭalls for boycotts against the Minneapolis-based retailer's stores are very present on social media and should by no means be underestimated, as evidenced by this tweet, for example, which has been liked more than 67,000 times and retweeted more than 19,000 times. The main reason for the precipitous drop can be attributed to the broadly-covered marketing fiasco surrounding Target's offerings associated with its Pride month event. After all, TGT stock has lost nearly 20% since mid-May and is down nearly 50% from its (arguably exuberant) all-time high. In this update, I discuss whether current events and other issues have made Target stock a risky investment, or potentially a compelling value opportunity. In August 2022, I took a look at Target's seasonality in terms of margins, inventory and cash management and shared my view on the company's near-term outlook at the time. ( WMT ) and concluded that the stock was too expensive given the current headwinds, difficult outlook, and competitive environment. I have covered the company twice in the past - in May 2022, I compared Target to Walmart Inc. In addition to the familiar working capital management related problems and the inherently highly competitive nature of the retail sector, the stock is under pressure due to recently faced boycotts for offering product lines related to LGBTQ Pride. retailer Target Corporation ( NYSE: TGT) are currently in freefall. Philip Thurston/E+ via Getty Images Introduction

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