Target’s Quarterly Financials Reveal the Effects of Repulsing Millions of Potential Customers

On Wednesday, Target released proof of something that should have been obvious: offending the vast majority of customers doesn’t pay off. And, you can’t say they weren’t warned.

The results reported in Target’s latest quarterly report reflect the damaging effects of the company’s scandalous, lewd, child-grooming LGBTQ products and promotions that promoted customer boycotts and backlash:

• Comparable quarterly sales declined 5.4% from year-ago, due to:
  • comparable store sales declines of 4.3% and
  • comparable digital sales declines of 10.5%.
• Quarterly sales declined for the first time in six years.
• Total revenue of $24.8 billion was 4.9% lower than last year, reflecting:
  • total sales decline of 4.9%.
  • the sales decline would have been even worse, if not for a 1.3% increase in “other revenue.”
• Target's foot traffic dropped 4.8% last quarter.
• Target shares have fallen 16% so far this year.

 

As a result, Target now expects full-year sales to fall and profits to decline.

https://mrctv.org/blog/targets-quarterly-financials-reveal-effects-repulsing-millions-potential-customers