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REUTERS/Peter Power/File Photo Acquire Licensing RightsAug 16 (Reuters) - Target (TGT.N) cut its full-year sales and profit expectations even as its quarterly profit exceeded Wall Street estimates on Wednesday, benefiting from fewer discounts and better stocked store shelves. The retailer's second-quarter sales, however, dropped 5%, partly due to the fallout of a backlash against its Pride merchandise in May. Target now expects annual comparable sales to decline in the mid-single digit range compared to its prior forecast of low-single digit decline to a low-single digit increase. It expects 2023 adjusted profit per share between $7 to $8, compared with the prior range of $7.75 to $8.75. On an adjusted basis, Target earned $1.80 per share in the quarter ended July 29, beating expectations of $1.39.

Persons: Peter Power, Target, Erik Carnell's Abprallen, Brian Cornell, Cornell, Dave Wagner, Ananya Mariam Rajesh, Savyata Mishra, Aishwarya Venugopal, Arun Koyyur Organizations: REUTERS, Wall, Pride, Aptus Capital, Target, Walmart, Thomson Locations: Target, Ancaster, Bengaluru

A customer leaves one of the stores of discount retail chain Target in Ancaster, January 15, 2015. REUTERS/Peter Power/File PhotoAug 14 (Reuters) - Target (TGT.N) is expected to post its first quarterly drop in revenue in about six years when it reports results on Wednesday, as the big-box retailer reels from a shift in consumer spending away from discretionary goods to services. "Target is going to suffer more versus the others because they have a much larger consumer discretionary element to their business," Edward Jones analyst Brian Yarbrough said. At least 16 analysts have cut their price targets on the retailer since the beginning of June as its merchandise is skewed towards discretionary items such as clothes, electronics and beauty products. THE CONTEXTTarget in May had warned of dour second-quarter results as inflation forces consumers to shun non-essential goods.

Persons: Peter Power, Edward Jones, Brian Yarbrough, Erik Carnell's Abprallen, Group's Joseph Feldman, Jane Hali, Jessica Ramirez, Granth, Vinay Dwivedi Organizations: REUTERS, Mastercard, American Express, Pride, Associates, Reuters, Refinitiv, Walmart, Target, Thomson Locations: Target, Ancaster, Bengaluru

☆ Walmart has not made changes to LGBTQ-themed merchandise
▼ + stars: | 2023-06-01 | by ( Siddharth Cavale | ) www.reuters.com time to read: +1 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoBENTONVILLE, Arkansas, May 31 (Reuters) - Walmart (WMT.N) on Wednesday said it has not made any changes to its LGBTQ-related merchandise tied to Pride Month, or to security measures in place at its stores, a week after rival Target (TGT.N) pulled some LGBTQ-themed products following customer backlash. Last week, Target pulled some Pride-related merchandise, including items by transgender designer Erik Carnell, saying the products led to "volatile circumstances," such as confrontations between customers and Target employees, and customers throwing Pride merchandise on the floor. Walmart also offers LGBTQ-themed merchandise tied to Pride Month, which is celebrated in June, including rainbow-adorned flags, clothing and accessories. "In this particular case, when we think about security ...we have not done anything in particular differently related to security in our stores," Watkins said.

Persons: Dado Ruvic, Latriece Watkins, Erik Carnell, Walmart's Watkins, Watkins, Siddharth Cavale, Lisa Shumaker Organizations: Walmart, REUTERS, Pride, Target, Thomson Locations: BENTONVILLE , Arkansas

☆ Target Pride backlash exposes 'rainbow capitalism' problem, designer says
▼ + stars: | 2023-05-31 | by ( Helen Reid | ) www.reuters.com time to read: +4 min

[1/2] Erik Carnell, transgender designer and artist whose products were pulled by U.S. retailer Target from its Pride Collection amid backlash from some of their customers, poses for a portrait in London, Britain, May 30, 2023. REUTERS/Dylan MartinezLONDON, May 31 (Reuters) - U.S. retailer Target's decision to remove some LGBTQ-themed merchandise after customer backlash in its stores highlights the problem with companies' "rainbow capitalism," said Erik Carnell, a transgender designer whose products were pulled from its stores. Target (TGT.N) has sold LGBTQ-related goods tied to Pride month for years. Target's collection for Pride Month, which is celebrated every year in June, includes more than 2,000 products, including Carnell's Abprallen brand. "We stand with you now and will continue to do so - not just during Pride Month, but each and every day," he said.

Persons: Erik Carnell, Dylan Martinez, Carnell, influencer Dylan Mulvaney, Brian Cornell, Etsy, Helen Reid, Siddharth Cavale, Kate Masters, Matt Scuffham, Deepa Babington Organizations: U.S, Target, REUTERS, Dylan Martinez LONDON, Kohl's, Pride Month, Anheuser, Reuters, Business, Pride, Thomson Locations: London, Britain, New York

☆ An LGBTQ+ creator got death threats after working with Target
▼ + stars: | 2023-05-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

New York CNN —When a Target distributor reached out to Erik Carnell last year about possibly placing his brand, Abprallen, in Target stores, he was thrilled. In the following months, Carnell pitched Target and came up with designs that would be appropriate for the big box store, he said. Ultimately, Target started selling three Abprallen items for adults: A sweatshirt, a tote bag and a messenger bag, each emblazoned with a different phrase. By Wednesday, Target had pulled Abprallen items from its US stores and online market, Reuters reported. Pride month merchandise is displayed at the front of a Target store in Hackensack, N.J., Wednesday, May 24, 2023.

☆ Fact Check-‘Satan respects pronouns’ pin not sold at Target
▼ + stars: | 2023-05-26 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Target did not sell a pin that says, “Satan respects pronouns” as part of its Pride collection. The pin shows a purple horned creature and the words “Satan respects pronouns.”Reuters reported that Target pulled some products from its Pride collection this week following a backlash from conservative consumers (here). “Target has never sold this pin, nor any items with the ‘Satan Respects Pronouns’ slogan,” Carnell said via email. A Target spokesperson also said the enamel pin with the “Satan respects pronouns” text was never sold at its stores. A pin with the words “Satan respects pronouns” was not part of Target’s Pride collection.

☆ Target is being held hostage by an anti-LGBTQ campaign
▼ + stars: | 2023-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —During every Pride Month in June for the past decade, Target has sold merchandise for LGBTQ customers, employees and allies. But this year, Target faced an anti-LGBTQ campaign that went viral on social media. Fueled by far-right personalities and on social media platforms, the anti-trans campaign spread misleading information about the company’s Pride Month products and its business practices. It won’t be worth whatever they think they’ll gain.”The campaign became hostile, with threats levied against Target employees and instances of damaged products and displays in stores. Meeting demandTarget became the focus of the anti-LGBTQ campaign’s ire for its Pride Month merchandise, but the campaign misrepresented Target’s ambitions.

Persons: ”, Matt Walsh, Kelley Robinson, Bud Light, Yoram, “ It’s, Brian Cornell, Fortune, Erik Carnell, ” Target, Gavin Newsom, Sarah Kate Ellis, Tim Calkins, Ron DeSantis, “, Paul Argenti Organizations: New, New York CNN, Target, Twitter, Human Rights, Pride, University of Pennsylvania’s Wharton School, Gallup, ”, Wall Street Journal, GLAAD, Northwestern University’s Kellogg School of Management, Companies, Nike, Disney, Florida Gov, Los Angeles Dodgers, Dodger, Dartmouth University’s Tuck School of Business Locations: New York, California, statehouses

☆ Target removing some Pride merchandise after anti-LGBTQ threats against staff
▼ + stars: | 2023-05-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Target on Wednesday said it was removing some products that celebrate Pride Month after the company and its employes became the focus of a “volatile” anti-LGBTQ campaign. Target said it removed from shelves “items that have been at the center of the most significant confrontational behavior.”For a decade, Target has celebrated Pride Month in and around June. “Pride Month at Target is a time of affirmation and solidarity with the LGBTQIA+ community,” the company says on its website. Some people have thrown Pride items on the floor, Target spokesperson Kayla Castaneda told Reuters. The products Target is withdrawing are being removed from all its US stores and from its website, Castaneda told Reuters.

Persons: Target, ” Target, Kayla Castaneda, Castaneda, Erik Carnell, “ I’m, transphobia, Eric Carnell, Bud Light, influencer Dylan Mulvaney, – Organizations: New, New York CNN, Target, Pride, Wall Street Journal, Reuters, Republican, ” Target, Anheuser, Busch, – Reuters Locations: New York

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