Target Is In A Freefall

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The retail giant Target is now in free fall due to a boycott being imposed on the company over the backlash against its female swimwear.

The swimwear allows adult wearers to “tuck” their male genitalia.

Since the boycott started the market value of the comment fell to $13 billion and there’s no sign of a rebound.

Image of Target Stock last five days. (image taken on June 1, 2023)

In response to the initial backlash, the store decided to remove some of the merchandise or place the display in the back of the store. The hope was it would avoid a “Bud Light situation”; however, the move doesn’t seem to be working.

On May 30, 2023, the company was further embarrassed when a rapper wrote a song about boycotting Target and it bumped Taylor Swift off the number 1 spot on iTunes.

it has also been reported that Target’s financial woes are the longest losing streak the retail company has had in the last five years.

Meanwhile, Bud Light (once an American icon that dominated the market) is in jeopardy of losing its prized status as America’s number-one beer.

From the New York Post:

Bud Light sales suffered their worst week ever, falling 25.7% — endangering its status as the world’s No. 1 beer brand, according to the latest data provided to The Post on Tuesday.

The plunge follows a 24.6% decline from the previous week and the sixth straight week sales have been hit since trans influencer Dylan Mulvaney promoted Bud Light on April 1.

The precipitous drop has narrowed the gap in sales between Bud Light and nearest rival Modelo Especial, which saw its sales surge 9.2% for the week ending May 20, according to Bump Williams Consulting and NielsonIQ data.

“While Bud Light loses week after week, Modelo Especial gains week after week and now Modelo outsells Bud Light on a national basis across all trade channels combined,” Bump Williams, who runs the consulting firm, told The Post.

“If this continues Modelo will surpass Bud Light for the year,” he added.

However, Modelo has some competition.

Yuengling, which claims to be “America’s Oldest Brewery” has seen a surge in sales and seen a 32% spike for a four-week period.